EX-99.1 2 dp78515_ex9901.htm EXHIBIT 99.1

Exhibit 99.1

 

Orrick, Herrington & Sutcliffe LLP

51 WEST 52ND STREET

NEW YORK, NEW YORK 10019-6142

 

July 19, 2017

 

Credit Suisse AG
Paradeplatz 8
CH 8001 Zurich, Switzerland

 

Ladies and Gentlemen:

 

We have acted as special tax counsel to Credit Suisse AG, a corporation incorporated under the laws of Switzerland (the “Company”), in connection with the preparation and filing of each pricing supplement or term sheet, as applicable, identified in Exhibit A attached hereto (each, a “Pricing Supplement”), to the underlying supplement and product supplement referenced therein, if applicable, to the prospectus supplement dated June 30, 2017 for the Company’s Senior Medium-Term Notes and Subordinated Medium-Term Notes relating to the prospectus dated June 30, 2017 contained in the Company’s Registration Statement (No. 333-218604-02) (the “Registration Statement”). This opinion is being furnished in accordance with the requirements of Section 601(b)(8) of Regulation S-K of the Securities Act of 1933, as amended (the “Act”).

 

In our opinion, the discussions under the headings “Material U.S. Federal Income Tax Considerations” in each Pricing Supplement and “Material United States Federal Income Tax Considerations” or “Material U.S. Federal Income Tax Considerations”, as applicable, in each related product supplement, subject to the conditions and limitations described therein, set forth the material U.S. federal income tax considerations applicable generally to holders of the securities offered pursuant to each Pricing Supplement as a result of the ownership and disposition of such securities.

 

We hereby consent to the filing of this opinion as an exhibit to the Registration Statement and to the references to us in each Pricing Supplement and related product supplement. By such consent we do not concede that we are an “expert” for the purposes of the Act.

 

  Very truly yours,
   
  /s/ Orrick, Herrington & Sutcliffe LLP

 

 

Exhibit A

 

Title of Securities Date of Pricing Supplement Pricing Supplement No.
PLUS Based on the Value of the Russell 2000® Index due November 5, 2018 July 14, 2017 A164
8.50% per annum Contingent Coupon Autocallable Reverse Convertible Securities due October 19, 2018 July 14, 2017 F407
Trigger Jump Securities due August 5, 2019 July 17, 2017 T1060
Digital Barrier Notes due July 26, 2018 July 14, 2017 T1066
7.35% per annum Contingent Coupon Callable Yield Notes due July 19, 2019 July 18, 2017 U2178
Auto-Callable Contingent Income Securities due July 17, 2020 July 14, 2017 U2185
Auto-Callable Contingent Income Securities due July 17, 2020 July 14, 2017 U2186
Trigger Autocallable Contingent Yield Notes July 14, 2017 U2189ABC