Filed pursuant to Rule 424(b)(2)
Registration Statement Nos. 333-202913 and 333-180300-03
December 23, 2015
Pricing Supplement Addendum No. 48 dated December 23, 2015
To Pricing Supplement No. ETN-10/A2 dated May 4, 2015,
Prospectus Supplement dated May 4, 2015 and
Prospectus dated May 4, 2015
 |
 Credit Suisse FI Enhanced Europe 50 Exchange Traded Notes due September 10, 2018 Linked to the STOXX Europe 50® USD (Gross Return) Index (“ETNs”) |
| Issuer: | Credit Suisse AG, acting through its Nassau Branch |
| CUSIP/ISIN: | 22542D100/US22542D1000 |
| NYSE Arca Ticker Symbol: | FIEU |
| Aggregate Offering Price of ETNs: | $3,975,536.00 |
| Public Offering Price per ETN: | $99.3884 |
| Principal Amount of ETNs: | $4,000,000 |
| Principal Amount per ETN: | $100.00 |
| Trade Date: | December 23, 2015 |
| Settlement Date: | December 28, 2015 |
| Agent: | Credit Suisse Securities (USA) LLC (“CCSU”), an affiliate of the Issuer |
| Proceeds to Issuer: | 100.00% of the Aggregate Offering Price |
| Agent’s Discount and Commission: | 0.00%. However, CSSU is expected to charge normal commissions for the purchase of the ETNs and may receive all or a portion of the investor fee. In addition, CSSU our agent for any repurchases at the investor’s option may charge investors a fee, with respect to each ETN that is redeemed prior to the Maturity Date, equal to the product of (i) 0.05% times (ii) the Closing Level of the Index on the Early Redemption Valuation Date or Accelerated Valuation Date, as the case may be, times (iii) the Index Units as of the immediately preceding Trading Day. For a further description of the fees and commissions payable pertaining to the ETNs please see the section entitled “Supplemental Plan of Distribution (Conflicts of Interest)” in the accompanying pricing supplement. |
You may lose some or all of your principal if you invest in the ETNs. See “Risk Factors” beginning on page PS-27 of the accompanying pricing supplement for risks relating to an investment in the ETNs.
Neither the Securities and Exchange Commission nor any state securities commission has approved or disapproved of these securities or determined that this pricing supplement addendum, or the accompanying pricing supplement, prospectus supplement and prospectus, is truthful or complete. Any representation to the contrary is a criminal offense. The ETNs are not deposit liabilities and are not insured or guaranteed by the Federal Deposit Insurance Corporation or any other governmental agency of the United States, Switzerland or any other jurisdiction.
Credit Suisse