New Issue: Credit Suisse sells $130,000 buffered notes linked to Lennar

By Marisa Wong

Los Angeles, May 13 – Credit Suisse AG, London Branch priced $130,000 of 0% buffered notes due May 14, 2021 linked to the common stock of Lennar Corp., according to a 424B2 filing with the Securities and Exchange Commission.

If the stock finishes at or above 70% of its initial value, the payout at maturity will be par of $10,000 plus 14%.

If the stock declines by more than 30%, investors will receive a number of shares of Lennar stock equal to $10,000 divided by the buffer price or, at the issuer’s option, the cash equivalent.

J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA are placement agents.

Issuer:	Credit Suisse AG, London Branch
Issue:	Buffered notes
Underlying shares:	Lennar Corp. (Symbol: LEN)
Amount:	$130,000
Maturity:	May 14, 2021
Coupon:	0%
Price:	Par of $10,000
Payout at maturity:	If stock finishes at or above 70% of initial value, par plus 14%; otherwise, number of Lennar shares equal to $10,000 divided by buffer value or, at issuer’s option, cash equivalent
Initial value:	$49.52
Buffer value:	$34.66, 70% of initial value
Final value:	Average of closing share prices on five trading days ending May 11, 2021
Strike date:	April 28
Pricing date:	April 29
Settlement date:	May 4
Placement agents:	J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA
Fees:	1%
Cusip:	22550MEQ8

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