Filed pursuant to Rule 433
Registration Statement No. 333-180300-03
FINANCIAL PRODUCTS
FACT SHEET (U962) |
|
Offering Period: January 13, 2014—February
3, 2014
5.5 Year Contingent Coupon Callable Yield
Notes Linked
to the S&P 500® Index and the Russell 2000® Index
Product
Summary
• | 5.5 year Contingent Coupon Callable
Yield Notes linked to the performance of the S&P 500® Index and the Russell 2000® Index. |
• | Subject to Early Redemption,
if a Coupon Barrier Event does not occur, the contingent coupons will be paid semi-annually in arrears at a rate expected to be
between 6.25% and 7.25% per annum* for the corresponding contingent coupon period; if a Coupon Barrier Event occurs, no coupon
will be paid for the corresponding contingent coupon period. |
• | If a Knock-In Event does not
occur, you will be entitled to receive the principal amount at maturity. |
• | If a Knock-In Event occurs,
you will be fully exposed to any depreciation in the Lowest Performing Underlying. |
• | Any payment on the securities
is subject to our ability to pay our obligations as they become due. |
• | Credit Suisse currently estimates
that the value of the securities on the Trade Date will be less than the price you pay for the securities, reflecting the deduction
of underwriting discounts and commissions and other costs of creating and marketing the securities. |
Terms
Issuer: | Credit Suisse AG (“Credit
Suisse”), acting through one of its branches. |
Trade Date: | Expected to be February
4, 2014. |
Settlement Date: | Expected to be February
7, 2014. |
Underlyings: | The S&P 500®
Index and the Russell 2000® Index. |
Contingent Coupon Rate*: | Subject to
Early Redemption, if a Coupon Barrier Event does not occur, expected to be between 6.25% and 7.25% per annum for the corresponding
contingent coupon period, calculated on a 30/360 basis; if a Coupon Barrier Event occurs, no contingent coupon will be paid for
the corresponding coupon period. |
Contingent Coupon Payment Dates**: | Subject
to Early Redemption, unless a Coupon Barrier Event occurs, semi-annually, beginning on May 7, 2014 to and including the Maturity
Date. |
Coupon Barrier Event: | A Coupon Barrier
Event will occur if, on an Observation Date, the closing level of any Underlying is less than its Coupon Barrier Level. |
Coupon Barrier Level*: | For each
Underlying, approximately 65% of its Initial Level. |
Observation Dates**: | Quarterly, beginning
on May 24, 2014 to and including the Valuation Date. |
Early Redemption: | Prior to the
Maturity Date, the Issuer may redeem the securities on any Contingent Coupon Payment Date scheduled to occur on or after August
7, 2014 upon notice on or before the immediately preceding Early Redemption Notice Date at 100% of the principal amount, together
with any applicable contingent coupon. |
Early Redemption Notice Dates**: | Quarterly,
on or before, beginning on August 4, 2014. |
Knock-In Level*: | For each Underlying,
approximately 65% of its Initial Level. |
Knock-In Event: | Occurs if the Final
Level of any Underlying is equal to or less than its Knock-In Level. |
Initial Level: | For each Underlying,
the closing level of such Underlying on the Trade Date. |
Final Level: | For each Underlying,
the closing level of such Underlying on the Valuation Date. |
Redemption Amount: | Subject to Early
Redemption, if (a) a Knock-In Event occurs, Principal Amount x (1 + the Underlying Return of the Lowest Performing Underlying);
(b) a Knock-In Event does not occur, Principal Amount. |
Lowest Performing Underlying: | The
Underlying with the lowest Underlying Return. |
Underlying Return: | For each Underlying,
calculated as follows:
(Final Level – Initial Level) / Initial Level; subject to a maximum of zero. |
Valuation Date: | August 2, 2019 |
Maturity Date: | August 7, 2019 |
* | To be determined on the Trade
Date. |
** | Please see the accompanying
pricing supplement for specific dates. |
Benefits
• | Offers the potential for above-market
contingent coupon payment versus ordinary fixed income investments. |
• | Reduced downside risk due to
a 35% contingent buffer. |
Hypothetical
Returns at Maturity
Percentage
Change
from the
Initial
Level to the
Final
Level of the
Lowest
Performing
Underlying |
Underlying
Return
of
the
Lowest
Performing
Underlying |
Redemption
Amount
per
$1,000
Principal
Amount
1)(2) |
50% |
0% |
$1,000 |
40% |
0% |
$1,000 |
30% |
0% |
$1,000 |
20% |
0% |
$1,000 |
10% |
0% |
$1,000 |
0% |
0% |
$1,000 |
-10% |
-10% |
$1,000 |
-20% |
-20% |
$1,000 |
-30% |
-30% |
$1,000 |
-40% |
-40% |
$600 |
-50% |
-50% |
$500 |
(1) | Does not include any contingent
coupon payments on the securities. |
(2) | The hypothetical Redemption
Amounts set forth above are for illustrative purposes only and may not be the actual returns applicable to you. The numbers appearing
in the table have been rounded for ease of analysis. |
Certain
Product Risks
• | Your investment may result in
a loss of up to 100% of the principal amount. If a Knock-In Event occurs, you will be fully exposed to any depreciation in the
Lowest Performing Underlying. |
• | The value of the securities
and the payment of any amount due on the securities are subject to the credit risk of Credit Suisse. |
• | The securities will not pay
more than the principal amount, plus accrued and unpaid contingent coupons, if any, at maturity or upon Early Redemption. |
• | If a Coupon Barrier Event occurs
on an Observation Date, no contingent coupon will be paid with respect to the corresponding contingent coupon period. |
• | The Redemption Amount will be
less than the principal amount even if a Knock-In Event occurs with respect to only one Underlying. |
• | The securities are subject to
Early Redemption, which may limit your ability to accrue contingent coupons over the full term of the securities.
(See
“Additional Risk Considerations” on the next page.)
|
Product
Profile
Horizon (years) |
|
5.5 Years |
Principal Repayment |
|
Principal at Risk |
Investment Objective |
|
Income |
Market Outlook |
|
Neutral |
FINANCIAL PRODUCTS
FACT SHEET |
|
Offering Period: January 13, 2014—February
3, 2014
5.5 Year Contingent Coupon Callable Yield
Notes
Additional
Risk Considerations
| · | The
securities
are exposed
equally to
risk of fluctuations
in the levels
of the Underlyings
to the same
degree for
each Underlying. |
| · | Prior
to maturity,
costs such
as concessions
and hedging
may affect
the value
of the securities. |
| · | Liquidity
– The
securities
will not
be listed
on any securities
exchange.
Credit Suisse
(or its affiliates)
intends to
offer to
purchase
the securities
in the secondary
market but
is not required
to do so.
Many factors,
most of which
are beyond
the control
of the Issuer,
will influence
the value
of the securities
and the price
at which
the securities
may be purchased
or sold in
the secondary
market. For
example,
the creditworthiness
of the Issuer,
including
actual or
anticipated
downgrades
to the Issuer’s
credit ratings,
may be a
contributing
factor. |
| · | Potential
Conflicts
– We
and our affiliates
play a variety
of roles
in connection
with the
issuance
of the securities
including
acting as
calculation
agent, hedging
our obligations
under the
securities
and determining
the estimated
value of
the securities.
The agent
for this
offering,
Credit Suisse
Securities
(USA) LLC
(“CSSU”),
is our affiliate.
In accordance
with FINRA
Rule 5121,
CSSU may
not make
sales in
this offering
to any discretionary
account without
prior written
approval
of the customer. |
| · | The
securities
will be affected
by a number
of economic,
financial,
political,
regulatory,
and judicial
factors that
may either
offset or
magnify each
other. |
| · | As
a holder
of the securities,
you will
not have
voting rights
or rights
to receive
cash dividends
or other
distributions
with respect
to the equity
securities
comprising
the Underlyings. |
The
risks set forth in the section entitled “Product Risks” on the preceding page and this section “Additional Risk
Considerations” are only intended as summaries of some of the risks relating to an investment in the securities. Prior to
investing in the securities, you should, in particular, review the “Product Risks” and “Additional Risk Considerations”
sections herein, the “Selected Risk Considerations” section in the pricing supplement and the “Risk Factors”
section in the product supplement, which set forth risks related to an investment in the securities.
Disclaimer
IRS
Circular 230 Disclosure: Credit Suisse and its affiliates do not provide tax advice. Accordingly, any discussion of U.S. tax matters
contained herein (including any attachments) is not intended or written to be used and cannot be used, in connection with the
promotion, marketing or recommendation by anyone unaffiliated with Credit Suisse of any of the matters addressed herein or for
the purpose of avoiding U.S. tax-related penalties.
Investment
suitability must be determined individually for each investor, and the financial instruments described herein may not be suitable
for all investors. The products described herein should generally be held to maturity as early sales could result in lower than
anticipated returns. This information is not intended to provide and should not be relied upon as providing accounting, legal,
regulatory or tax advice. Investors should consult with their own advisors as to these matters.
This
material is not a product of Credit Suisse Research Departments. Financial Products may involve a high degree of risk, and may
be appropriate investments only for sophisticated investors who are capable of understanding and assuming the risks involved.
Credit Suisse and its affiliates may have positions (long or short), effect transactions or make markets in securities or financial
instruments mentioned herein (or options with respect thereto), or provide advice or loans to, or participate in the underwriting
or restructuring of the obligations, issuers of the stocks comprising the applicable index, indices or fund mentioned herein.
Credit Suisse is a member of FINRA, NYSE and SIPC. Clients should contact their salespersons at, and execute transactions through,
a Credit Suisse entity qualified in their home jurisdiction unless governing law permits otherwise.
You
may revoke your offer to purchase the securities at any time prior to the time at which we accept such offer on the date the securities
are priced. We reserve the right to change the terms of, or reject any offer to purchase the securities prior to their issuance.
In the event of any changes to the terms of the securities, we will notify you and you will be asked to accept such changes in
connection with your purchase. You may also choose to reject such changes in which case we may reject your offer to purchase.
This
document is a summary of the terms of the securities and factors that you should consider before deciding to invest in the securities.
Credit Suisse has filed a registration statement (including pricing supplement, underlying supplement, product supplement, prospectus
supplement and prospectus) with the Securities and Exchange Commission, or SEC, for the offering to which this offering summary
relates. Before you invest, you should read this summary together with the Preliminary Pricing Supplement dated January 13, 2014,
Underlying Supplement dated July 29, 2013, Product Supplement No. U-I dated March 23, 2012, Prospectus Supplement dated March
23, 2012 and Prospectus dated March 23, 2012, to understand fully the terms of the securities and other considerations that are
important in making a decision about investing in the securities. You may get these documents without cost by visiting EDGAR on
the SEC Web site at www.sec.gov. Alternatively,
Credit Suisse, any agent or any dealer participating in this offering will arrange to send you the pricing supplement, underlying
supplement, product supplement, prospectus supplement and prospectus if you so request by calling toll-free 1-800-221-1037.
You
may access the pricing supplement related to the offering summarized herein on the SEC website at: http://www.sec.gov/Archives/edgar/data/1053092/000095010314000224/dp43113_424b2-u962.htm
You
may access the underlying supplement, product supplement, prospectus supplement and prospectus on the SEC website at www.sec.gov
or by clicking on the hyperlinks to each of the respective documents incorporated by reference in the pricing supplement.