New Issue: Credit Suisse prices $1 million buffered notes tied to Netflix

By William Gullotti

Buffalo, N.Y., April 27 – Credit Suisse AG, London Branch priced $1 million of 0% buffered notes due May 8, 2023 linked to the stock performance of Netflix, Inc., according to a 424B2 filing with the Securities and Exchange Commission.

If stock’s final level is greater than or equal to the 83.5% buffer level, the payout will be par plus the fixed return of 20%.

If the stock declines by more than 16.5%, investors will receive a number of shares equal to $10,000 divided by the stock’s buffer level or, at the issuer’s option, the cash equivalent.

Credit Suisse Securities (USA) LLC is the agent with J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA as placement agents.

Issuer:	Credit Suisse AG, London Branch
Issue:	Buffered notes
Underlying stock:	Netflix, Inc.
Amount:	$1 million
Maturity:	May 8, 2023
Coupon:	0%
Price:	Par of $10,000
Payout at maturity:	If stock’s final level is greater than or equal to the 83.5% buffer level, par plus 20%; otherwise, receive a number of shares equal to $10,000 divided by the stock’s buffer level or, at the issuer’s option, the cash equivalent
Initial stock level:	$226.19
Buffer level:	$188.87; 83.5% of initial level
Strike date:	April 20
Pricing date:	April 22
Settlement date:	April 28
Agent:	Credit Suisse Securities (USA) LLC with J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA as placement agents
Fees:	1%
Cusip:	22550MD22

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