0001104659-23-000913.txt : 20230104 0001104659-23-000913.hdr.sgml : 20230104 20230104170250 ACCESSION NUMBER: 0001104659-23-000913 CONFORMED SUBMISSION TYPE: FWP PUBLIC DOCUMENT COUNT: 2 FILED AS OF DATE: 20230104 DATE AS OF CHANGE: 20230104 SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: CREDIT SUISSE AG CENTRAL INDEX KEY: 0001053092 STANDARD INDUSTRIAL CLASSIFICATION: SECURITY BROKERS, DEALERS & FLOTATION COMPANIES [6211] IRS NUMBER: 000000000 STATE OF INCORPORATION: V8 FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: FWP SEC ACT: 1934 Act SEC FILE NUMBER: 333-238458-02 FILM NUMBER: 23507636 BUSINESS ADDRESS: STREET 1: PARADEPLATZ 8 CITY: ZURICH STATE: V8 ZIP: 8001 BUSINESS PHONE: 01141 44 333 1111 MAIL ADDRESS: STREET 1: P.O. BOX 1 CITY: ZURICH STATE: V8 ZIP: 8070 FORMER COMPANY: FORMER CONFORMED NAME: CREDIT SUISSE / /FI DATE OF NAME CHANGE: 20050607 FORMER COMPANY: FORMER CONFORMED NAME: CREDIT SUISSE FIRST BOSTON / /FI DATE OF NAME CHANGE: 19980115 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: CREDIT SUISSE AG CENTRAL INDEX KEY: 0001053092 STANDARD INDUSTRIAL CLASSIFICATION: SECURITY BROKERS, DEALERS & FLOTATION COMPANIES [6211] IRS NUMBER: 000000000 STATE OF INCORPORATION: V8 FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: FWP BUSINESS ADDRESS: STREET 1: PARADEPLATZ 8 CITY: ZURICH STATE: V8 ZIP: 8001 BUSINESS PHONE: 01141 44 333 1111 MAIL ADDRESS: STREET 1: P.O. BOX 1 CITY: ZURICH STATE: V8 ZIP: 8070 FORMER COMPANY: FORMER CONFORMED NAME: CREDIT SUISSE / /FI DATE OF NAME CHANGE: 20050607 FORMER COMPANY: FORMER CONFORMED NAME: CREDIT SUISSE FIRST BOSTON / /FI DATE OF NAME CHANGE: 19980115 FWP 1 tm2229663d3_fwp.htm FWP

Filed Pursuant to Rule 433

Issuer Free Writing Prospectus

Registration Statement No. 333-238458

January 4, 2023

$1,250,000,000

7.950% Fixed Rate Senior Notes Due 2025

Pricing Term Sheet

Issuer:	Credit Suisse AG, acting through its New York Branch
Note Type:	Fixed Rate Senior Notes
Format:	SEC Registered
Expected Issue Ratings⁽¹⁾:	A3 (Negative) by Moody’s / A- (Stable) by S&P / BBB+ (Negative) by Fitch
Minimum Denomination:	$250,000 x $1,000
Trade Date:	January 4, 2023
Settlement Date⁽²⁾:	January 9, 2023 (T+3)
Maturity Date:	January 9, 2025
Principal Amount:	$1,250,000,000
Benchmark US Treasury:	UST 4.250% due December 31, 2024
Benchmark US Treasury Yield:	4.360%
Spread to Benchmark:	+370bps
Reoffer Yield:	8.060%
Coupon:	7.950%
Public Offering Price:	99.800%
Interest Payment Dates:	January 9 and July 9 of each year, beginning on July 9, 2023 and ending on the Maturity Date
Day Count:	30/360
CUSIP:	22550L2L4
ISIN:	US22550L2L41
Concurrent Debt Offering:	The Issuer is concurrently offering $2,500,000,000 Fixed Rate Senior Notes due 2028
Sole Bookrunner:	Credit Suisse Securities (USA) LLC
Co-Managers:	Academy Securities, Inc. AmeriVet Securities, Inc. C.L. King & Associates, Inc. Drexel Hamilton, LLC Samuel A. Ramirez & Company, Inc.

(1) A securities rating is not a recommendation to buy, sell, or hold securities and may be subject to revision or withdrawal at any time.

(2) It is expected that delivery of the Fixed Rate Senior Notes will be made against payment therefor on or about the settlement date specified on this communication, which will be the third business day following the date of pricing of the Fixed Rate Senior Notes (this settlement cycle being referred to as ‘‘T+3’’). Under Rule 15c6-1 of the SEC under the U.S. Securities Exchange Act of 1934, as amended, trades in the secondary market generally are required to settle in two business days, unless the parties to any such trade expressly agree otherwise. Accordingly, purchasers who wish to trade Fixed Rate Senior Notes prior to their date of delivery may be required, by virtue of the fact that the Fixed Rate Senior Notes initially will settle in T+3 to specify an alternate settlement cycle at the time of any such trade to prevent a failed settlement. Purchasers of Fixed Rate Senior Notes who wish to trade Fixed Rate Senior Notes prior to their date of delivery should consult their own advisor.

The Issuer has filed a registration statement, including a prospectus and a prospectus supplement with the SEC, for the offering to which this communication relates. Before you invest, you should read each of these documents and the other documents the Issuer has filed with the SEC for more complete information about the Issuer and this offering. You may get these documents for free by visiting EDGAR on the SEC website at sec.gov. Alternatively, the Issuer, any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by calling Credit Suisse Securities (USA) LLC toll-free at 1-800-221-1037.

Changes to Preliminary Pricing Supplement

1. The Issuer is not offering any of the Floating Rate Notes contemplated in its preliminary pricing supplement dated January 4, 2023.

2. Additional conforming changes will be made throughout the Issuer’s final pricing supplement to reflect the change described above.

Filed Pursuant to Rule 433

Issuer Free Writing Prospectus

Registration Statement No. 333-238458

January 4, 2023

$2,500,000,000

7.500% Fixed Rate Senior Notes Due 2028

Pricing Term Sheet

Issuer:	Credit Suisse AG, acting through its New York Branch
Note Type:	Fixed Rate Senior Notes
Format:	SEC Registered
Expected Issue Ratings⁽¹⁾:	A3 (Negative) by Moody’s / A- (Stable) by S&P / BBB+ (Negative) by Fitch
Minimum Denomination:	$250,000 x $1,000
Trade Date:	January 4, 2023
Settlement Date⁽²⁾:	January 9, 2023 (T+3)
Maturity Date:	February 15, 2028
Principal Amount:	$2,500,000,000
Benchmark US Treasury:	UST 3.875% due December 31, 2027
Benchmark US Treasury Yield:	3.851%
Spread to Benchmark:	+370bps
Reoffer Yield:	7.551%
Coupon:	7.500%
Public Offering Price:	99.771%
Interest Payment Dates:	February 15 and August 15 of each year, beginning on August 15, 2023 (long first coupon) and ending on the Maturity Date
Day Count:	30/360
CUSIP:	22550L2M2
ISIN:	US22550L2M24
Concurrent Debt Offering:	The Issuer is concurrently offering $1,250,000,000 Fixed Rate Senior Notes due 2025
Sole Bookrunner:	Credit Suisse Securities (USA) LLC
Co-Managers:	Academy Securities, Inc. AmeriVet Securities, Inc. C.L. King & Associates, Inc. Drexel Hamilton, LLC Samuel A. Ramirez & Company, Inc.

(1) A securities rating is not a recommendation to buy, sell, or hold securities and may be subject to revision or withdrawal at any time.

Changes to Preliminary Pricing Supplement

1. The Issuer is not offering any of the Floating Rate Notes contemplated in its preliminary pricing supplement dated January 4, 2023.

2. Additional conforming changes will be made throughout the Issuer’s final pricing supplement to reflect the change described above.

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