Product Terms

4 Year Buffered Accelerated Return Equity Securities (BARES) linked to the performance of the Energy Select Sector SPDR^{^®} Fund.

If the Final Level is equal to or greater than the Initial Level, then you will be entitled to participate in the leveraged appreciation, if any, of the Underlying.

If the Final Level is less than the Initial Level by not more than the Buffer Amount, then you will be entitled to receive the principal amount at maturity.

If the Final Level is less than the Initial Level by more than the Buffer Amount, then you will be exposed to any depreciation in the Underlying beyond the Buffer Amount.

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 its London branch.
Trade Date:	Expected to be May 25, 2016
Settlement Date:	Expected to be May 31, 2016
Underlying:	The Energy Select Sector SPDR^{^®} Fund.
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: Upside Participation Rate x [(Final Level – Initial Level) / Initial Level]; (b) the Final Level is less than the Initial Level by not more than the Buffer Amount, then: zero; or (c) if the Final Level is less than the Initial Level by more than the Buffer Amount, then: [(Final Level – Initial Level) / Initial Level] + Buffer Amount.
Upside Participation Rate**:	Expected to be between 105% and 115%
Buffer Amount:	15%
Initial Level:	The closing level of the Underlying on the Trade Date.
Final Level:	The closing level of the Underlying on the Valuation Date.
Valuation Date:	May 26, 2020
Maturity Date:	May 29, 2020
CUSIP:	22548Q5C5
Fees:	Credit Suisse Securities (USA) LLC and any agent (the “Agents”) may receive varying discounts and commissions of up to $40.00 per $1,000 principal amount of securities and will forgo fees for sales to fiduciary accounts. The Agents may re-allow some or all of the discount on the principal amount per security on sales of such securities by other brokers or dealers.


* As used in this document, references to "we" or "our" are to Credit Suisse AG, as Issuer. ** To be determined on the Trade Date.

Certain Product Characteristics

If the Final Level is equal to or greater than the Initial Level, then: Upside Participation Rate x [(Final Level – Initial Level) / Initial Level]

If the Final Level is less than the Initial Level by not more than the Buffer Amount, then: zero

If the Final Level is less than the Initial Level by more than the Buffer Amount, then: [(Final Level – Initial Level) / Initial Level] + Buffer Amount

Buffer Amount of 15%.

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⁾

50.00%	55.00%	$1,550.00
40.00%	44.00%	$1,440.00
30.00%	33.00%	$1,330.00
20.00%	22.00%	$1,220.00
10.00%	11.00%	$1,110.00
0.00%	0.00%	$1,000.00
−10.00%	0.00%	$1,000.00
−15.00%	0.00%	$1,000.00
−20.00%	−5.00%	$950.00
−30.00%	−15.00%	$850.00
−40.00%	−25.00%	$750.00
−50.00%	−35.00%	$650.00

(1)

Assumes a Buffer Amount of 15% and an Upside Participation Rate of 110% (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 85% 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 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.

(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.

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 preliminary 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 April 27, 2016, Underlying Supplement dated May 4, 2015, Product Supplement No. I dated May 4, 2015, Prospectus Supplement dated May 4, 2015 and Prospectus dated May 4, 2015 to understand fully the terms of the securities and other considerations that are important in making a decision about investing in the securities. If the terms described in the applicable preliminary pricing supplement are inconsistent with those described herein, the terms described in the applicable preliminary pricing supplement will control. 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 preliminary pricing supplement, underlying supplement, product supplement, prospectus supplement and prospectus if you so request by calling toll-free 1 (800) 221-1037.

This fact sheet is a general description of the terms of the offering. Please see the full description in the applicable preliminary pricing supplement:

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 preliminary pricing supplement.