Linked to the Performance of the Lowest Performing of the Dow Jones Industrial Average^TM and the Russell 2000^® Index

Product Terms

· If the Final Level of the Lowest Performing Underlying is equal to or greater than its Initial Level, you will participate in the leveraged appreciation, if any, of the Lowest Performing Underlying.

· If the Final Level of the Lowest Performing Underlying is less than its Initial Level and a Knock-In Event does not occur, for each $1,000 principal amount of securities, you will receive $1,000 multiplied by the sum of one plus the absolute value of the Underlying Performance of the Lowest Performing Underlying.

· If the Final Level of the Lowest Performing Underlying is less than its Initial Level and a Knock-In Event occurs, you will be fully exposed to any depreciation in the Lowest Performing Underlying. You could lose your entire investment.

· 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 January 31, 2018.
Settlement Date:	Expected to be February 5, 2018.
Underlyings:	The Dow Jones Industrial Average^TM and the Russell 2000^® Index.
Knock-In Level**:	For each Underlying, approximately 70% of the Initial Level of such Underlying.
Knock-In Event:	Occurs if the Final Level of any Underlying is 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.
Upside Participation Rate**:	Expected to be between 140% and 150%.
Redemption Amount:	For each $1,000 principal amount of securities, $1,000 x (1 + Underlying Return of the Lowest Performing Underlying).
Underlying Return:	For each Underlying, if (a) its Final Level is greater than or equal to its Initial Level, (Upside Participation Rate x Underlying Performance); or (b) its Final Level is less than its Initial Level and (i) a Knock-In Event has not occurred, the absolute value of its Underlying Performance; (ii) a Knock-In Event has occurred, its Underlying Performance.
Lowest Performing Underlying:	The Underlying with the lowest Underlying Performance.
Underlying Performance:	For each Underlying: (Final Level – Initial Level)/Initial Level
Valuation Date:	January 31, 2022
Maturity Date:	February 3, 2022
CUSIP:	22550W4B0
Fees:	Certain fiduciary accounts may pay a purchase price of at least $980 per $1,000 principal amount of securities, and Credit Suisse Securities (USA) LLC and any agent (the “Agents”) will forgo any fees with respect to such sales. The Agents may receive varying discounts and commissions of up to $20 per $1,000 principal amount of securities. 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

· Uncapped leveraged participation in the appreciation, if any, of the Lowest Performing Underlying.

· Upside Participation Rate expected to be between 140% and 150%.**

· If the Final Level of the Lowest Performing Underlying is less than its Initial Level, subject to a Knock-In Event, return based on the absolute value of the Underlying Performance of the Lowest Performing Underlying.

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

· Knock-In Level of approximately 70%** 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	Return on the Securities ^{(1) (2)}	Redemption Amount per $1,000 Principal Amount ⁽¹⁾⁽²⁾
50%	70%	$1,700
40%	56%	$1,560
30%	42%	$1,420
20%	28%	$1,280
10%	14%	$1,140
0%	0%	$1,000
−10%	10%	$1,100
−20%	20%	$1,200
−30%	30%	$1,300
−31%	−31%	$690
−40%	−40%	$600
−50%	−50%	$500

(1)

Assumes an Upside Participation Rate of 140%** (the bottom of the expected range) and a Knock-In Level of 70%.**

(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 of the securities you hold. If a Knock-In Event occurs, the Underlying Return of the Lowest Performing Underlying will be negative and 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 securities do not pay interest.

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

· If the Final Level of the Lowest Performing Underlying is less than its Initial Level and a Knock-In Event has not occurred, the Redemption Amount will be subject to an embedded cap.

· 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 any other Underlying.

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

(See “Additional Risk Considerations” on the next page)

Linked to the Lowest Performing of the Dow Jones Industrial Average^TM and the Russell 2000^® Index

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 December 28, 2019, Underlying Supplement dated June 30, 2017, Product Supplement No. I dated June 30, 2017, Prospectus Supplement dated June 30, 2017 and Prospectus dated June 30, 2017, 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.