Digital Barrier Notes due November 28, 2017 Linked to the S&P 500^® Index and the Russell 2000^® Index

Product Terms

Digital Barrier Notes due November 28, 2017 linked to the performance of the S&P 500^® Index and the Russell 2000^® Index.

If the Final Level of the Lowest Performing Underlying is greater than its Knock-in Level, you will be entitled to receive the Fixed Payment Percentage.

If the Final Level of the Lowest Performing Underlying is equal to or less than its Knock-In Level, 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.

Issuer*:	Credit Suisse AG (“Credit Suisse”), acting through its London branch
Trade Date:	Expected to be May 20, 2016
Settlement Date:	Expected to be May 27, 2016
Underlyings:	The S&P 500^® Index and the Russell 2000^® Index
Fixed Payment
Percentage**:	Expected to be between 9% and 10%
Redemption Amount:	Principal Amount x (1 + Underlying Return of the Lowest Performing Underlying).
Underlying Return:	For each Underlying, if (a) its Final Level is greater than its Knock-In Level, then the Fixed Payment Percentage; or (b) its Final Level is equal to or less than its Knock-In Level, then: [(Final Level – Initial Level)/Initial Level]
Knock-In Level**:	For each Underlying, approximately 75% 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.
Lowest Performing	The Underlying with the lowest Underlying Return.
Underlying:
Valuation Date:	November 20, 2017
Maturity Date:	November 28, 2017
CUSIP:	22548Q5N1
Fees:	Credit Suisse Securities (USA) LLC and any agent (the “Agents”) may receive varying discounts and commissions of up to $21.00 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 of the Lowest Performing Underlying is equal to or greater than its Knock In Level, offers the Fixed Payment Percentage.

•

Fixed Payment Percentage expected to be between 9% and 10%**.

•

If a Knock-In Event occurs, full downside participation in the depreciation of the Lowest Performing Underlying.

•

Knock-In Level of approximately 75%** of the respective Initial Level for each Underlying.

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 ⁽¹⁾

Redemption

Amount per $1,000 Principal Amount

⁽¹⁾⁽²⁾

50%	9.50%	$1,095.00
40%	9.50%	$1,095.00
30%	9.50%	$1,095.00
20%	9.50%	$1,095.00
10%	9.50%	$1,095.00
0%	9.50%	$1,095.00
-10%	9.50%	$1,095.00
-20%	9.50%	$1,095.00
-25%	-25.00%	$750.00
-30%	-30.00%	$700.00
-40%	-40.00%	$600.00
-50%	-50.00%	$500.00

(1)

Assumes a Fixed Payment Percentage of 9.50%** (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 of the Lowest Performing Underlying is equal to or less than its Knock-In Level. In such case, 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 Redemption Amount will be based on the Underlying Return of the Lowest Performing Underlying and, therefore, you will not benefit from the performance of the other Underlying.

•

The securities are exposed to the risk of fluctuations in the level of the Underlyings to the same degree for each Underlying.

•

The securities do not pay interest.

•

The return on the securities is affected by the Final Level of the Lowest Performing Underlying and by whether a Knock-In Event occurs.

(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 preliminary pricing supplement and the “Risk Factors” section in 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 29, 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.