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Published on 8/22/2019 in the Prospect News Structured Products Daily.

New Issue: Credit Suisse prices $2.37 million contingent income autocallables linked to JPMorgan

By Sarah Lizee

Olympia, Wash., Aug. 22 – Credit Suisse AG, London Branch priced $2.37 million of autocallable contingent income securities due Aug. 24, 2020 linked to the common stock of JPMorgan Chase & Co., according to a 424B2 filing with the Securities and Exchange Commission.

Each quarter, the notes pay a contingent coupon at the rate of 8% per year if the stock closes at or above its downside threshold level, 74% of its initial share price, on the observation date for that quarter.

The notes will be automatically called at par of $10 if the stock closes at or above its initial share price on any quarterly observation date.

If the stock finishes at or above the downside threshold level, the payout at maturity will be par. Otherwise, investors will lose 1% for every 1% that the stock declines from its initial share price.

Credit Suisse Securities (USA) Inc. is the agent. Morgan Stanley Smith Barney LLC is acting as distributor.

Issuer:Credit Suisse AG, London Branch
Issue:Autocallable contingent income securities
Underlying stock:JPMorgan Chase & Co.
Amount:$2,372,000
Maturity:Aug. 24, 2020
Coupon:8% per year, payable quarterly if stock closes at or above downside threshold level on observation date for that quarter
Price:Par of $10.00
Payout at maturity:If stock finishes at or above downside threshold level, par; otherwise, 1% loss for every 1% that stock declines from initial share price
Call:Automatically at par if stock closes at or above initial share price on any quarterly observation date
Initial share price:$108.69
Downside threshold:$80.43, 74% of initial share price
Pricing date:Aug. 19
Settlement date:Aug. 22
Agent:Credit Suisse Securities (USA) Inc.
Distributor:Morgan Stanley Smith Barney LLC
Fees:1.75%
Cusip:22550K194

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