Product Terms

	·	6-year Digital-Plus Barrier Notes linked to the performance of the S&P 500^® Index.
	·	If the Final Level is equal to or greater than the Initial Level, then you will be entitled to receive the greater of the Fixed Payment Percentage and the uncapped participation in the appreciation of the Underlying.
	·	If the Final Level is less than the Initial Level and a Knock-In Event does not occur, you will be entitled to receive the principal amount at maturity.
	·	If the Final Level is less than the Initial Level and a Knock-In Event occurs, you will be fully exposed to any depreciation in the Underlying.
	·	Any payment on the securities is subject to our ability to pay our obligations as they become due.

Issuer:	Credit Suisse AG (“Credit Suisse”), acting through one of its branches.
Trade Date:	Expected to be August 22, 2014.
Settlement Date:	Expected to be August 29, 2014.
Underlying:	The S&P 500^® Index
Fixed Payment
Percentage*:	Expected to be between 40% and 45%.
Redemption Amount:	Principal Amount x (1 + Underlying Return).

Underlying Return:	if (a) the Final Level is equal to or greater than the Initial Level, then the greater of (i) the Fixed Payment Percentage and (ii) [(Final Level – Initial Level)/Initial Level]; (b) the Final Level is less than the Initial Level and (i) a Knock-In Event occurs, then: [(Final Level – Initial Level)/Initial Level]; or (ii) a Knock-In Event has not occurred, then: zero.

Knock-In Level*:	Approximately 70% of the Initial Level.
Knock-In Event:	Occurs if the Final Level is equal to or less than the Knock-In Level.

Initial Level:	The closing level on the Trade Date.
Final Level:	The closing level on the Valuation Date.

Valuation Date:	August 24, 2020
Maturity Date:	August 31, 2020
CUSIP:	22547QQE9

* To be determined on the Trade Date.

Certain Product Characteristics

	•	If the Final Level is equal to or greater than the Initial Level, offers the greater of the Fixed Payment Percentage and the uncapped participation in the appreciation of the Underlying.
	•	The Knock-In Level will be approximately 70%* of the Initial Level.

Hypothetical Returns at Maturity

Percentage Change from the Initial Level to the Final Level	Underlying Return ⁽¹⁾	Redemption Amount per $1,000 Principal Amount ⁽¹⁾⁽²⁾
70%	70.00%	$1,700
50%	50.00%	$1,500
35%	42.50%	$1,425
25%	42.50%	$1,425
10%	42.50%	$1,425
0%	42.50%	$1,425
-10%	0.00%	$1,000
-20%	0.00%	$1,000
-35%	-35.00%	$650
-40%	-40.00%	$600
-50%	-50.00%	$500

	(1)	Assumes a Fixed Payment Percentage of 42.50%* (the midpoint of the expected range).
	(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. The Redemption Amount will be less than the principal amount if the Final Level is less than the Initial Level and a Knock-In Event occurs. In such case, you will be fully exposed to any depreciation in the 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 do not pay interest.
	•	The return on the securities is affected by the Final Level and the occurrence of a Knock-In Event.

(See “Additional Risk Considerations” on the next page.)

The risks set forth in the section entitled “Certain 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 “Certain Product Risks” and “Additional Risk Considerations” sections herein, the “Selected Risk Considerations” section in the pricing supplement, and the “Risk Factors” section of the product supplement, which set forth risks related to an investment in the securities.

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 address herein or for the purpose of avoiding U.S. tax-related penalties.

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, product supplement, underlying 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 July 28, 2014, Underlying Supplement dated July 29, 2013, Product Supplement No. T-I dated March 23, 2012, Prospectus Supplement dated March 23, 2012 and Prospectus dated March 23, 2012 to understand fully the terms of the notes 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, product supplement, underlying supplement, prospectus supplement and prospectus if you so request by calling toll-free 1 (800) 221-1037.

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.