6 Year Annual Reset Coupon Buffered Notes Linked to the Russell 2000^® Index

Product Terms

·	6 year Annual Reset Coupon Buffered Notes linked to the performance of the Russell 2000^® Index.
·	Coupons will be paid for the corresponding coupon period annually in arrears at the Applicable Rate per annum, which will depend on whether a Coupon Barrier Event occurs on the corresponding Coupon Observation Date.
·	If the Underlying declines by more than 20%, investors should be willing to lose up to 80% of their investment, excluding coupon payments on the securities.
·	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 27, 2014.
Settlement Date:	Expected to be August 29, 2014.
Underlying:	The Russell 2000^®Index.
Applicable Rate*:	If a Coupon Barrier Event does not occur, the Applicable Rate for the corresponding coupon period is expected to be between 5.00% and 5.50% per annum. If a Coupon Barrier Event occurs, the Applicable Rate for the corresponding coupon period is expected to be between 1.75% and 2.25% per annum. Coupons will be calculated on a 30/360 basis.
Coupon Payment Dates**:	Annually, beginning on August 31, 2015 to and including the Maturity Date.
Coupon Observation Dates**:	Annually, beginning on August 27, 2015 to and including the Valuation Date.
Coupon Barrier Level*:	The closing level of the Underlying on the corresponding Coupon Barrier Level Determination Date.
Coupon Barrier Level Determination Dates**:	Annually, beginning on August 27, 2014 to and including August 27, 2019.
Coupon Barrier Event:	A Coupon Barrier Event will occur on a Coupon Observation Date if the closing level of the Underlying is less than the Coupon Barrier Level applicable to that Coupon Observation Date.
Buffer Amount:	20%
Initial Level:	The closing level on the Trade Date.
Final Level:	The closing level on the Valuation Date.
Redemption Amount:	Principal Amount x (1 + Underlying Return).
Underlying Return:	If (a) the Final Level is equal to or greater than the Initial Level, zero; (b) the Final Level is less than the Initial Level by not more than the Buffer Amount, zero; (c) the Final Level is less than the Initial Level by more than the Buffer Amount, [(Final Level – Initial Level) / Initial Level] + Buffer Amount.
Valuation Date:	August 27, 2020
Maturity Date:	August 31, 2020
CUSIP:	22547QRK4

*To be determined on the Trade Date.

** Please see the accompanying pricing supplement for the specific dates.

Certain Product Characteristics

·	The Buffer Amount is expected to be 20%.*

Hypothetical Returns at Maturity

Percentage Change from the Initial Level to the Final Level	Underlying Return	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%	0%	$1,000
-20%	0%	$1,000
-30%	-10%	$900
-40%	-20%	$800
-50%	-30%	$700

(1)

Does not include any 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 80% of the principal amount. The Redemption Amount will be less than the principal amount if the Final Level is less than the Initial Level by more than the Buffer Amount. In such case, you will be exposed to any depreciation in the Underlying beyond the Buffer Amount.
·	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 coupon at maturity.
·	If a Coupon Barrier Event occurs on a Coupon Observation Date, the Applicable Rate for the corresponding coupon period is expected to be between 1.75% and 2.25% per annum*.
·	The Coupon Barrier Level is variable and may increase over the term of the securities.
	(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 in 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 addressed 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, 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 July 31, 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 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.