New Issue: Credit Suisse sells $10 million review notes tied to three stocks

By Marisa Wong

Morgantown, W.Va., April 20 – Credit Suisse AG, London Branch priced $10 million of 0% review notes due April 1, 2020 linked to the common stocks of Lowe’s Cos., Inc., Microsoft Corp. and Morgan Stanley, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will be called at par plus a call premium of 23.2% per year if each stock closes at or above its call level on either of two review dates. The call level is equal to the initial price for the April 3, 2019 review date, and the call level is 75% of the initial price for the March 27, 2020 review date.

If the notes are not called, investors will be fully exposed to any losses of the lowest performing stock.

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

Issuer:	Credit Suisse AG, London Branch
Issue:	Review notes
Underlying stocks:	Lowe’s Cos., Inc. (Symbol: LOW), Microsoft Corp. (Symbol: MSFT) and Morgan Stanley (Symbol: MS)
Amount:	$10 million
Maturity:	April 1, 2020
Coupon:	0%
Price:	Par
Payout at maturity:	1% loss per 1% decline of the lowest performing stock
Call:	At par plus 23.2% per year if each stock closes at or above call level on either of two review dates; call level is equal to the initial price for the April 3, 2019 review date and equal to 75% of the initial price for the March 27, 2020 review date
Initial prices:	$85.88 for Lowe’s, $89.39 for Microsoft, $52.91 for Morgan Stanley
Pricing date:	March 29
Settlement date:	April 3
Agents:	JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC
Fees:	1.35%
Cusip:	22550WN45

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