SEC Info - Credit Suisse AG - ‘FWP’ on 1/29/21 re: Credit Suisse AG

Linked to the Performance of the Lowest Performing of the S&P 500^® Index 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, then you will benefit from the appreciation, if any, of such Underlying, subject to the Maximum Return.

If the Final Level of the Lowest Performing Underlying is less than its Initial Level but equal to or greater than its Buffer Level, then you will receive the absolute value of the Underlying Return of such Underlying.

If the Final Level of the Lowest Performing Underlying is less than its Buffer Level, then you will be exposed to any depreciation in such Underlying beyond its Buffer Level.

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 February 23, 2021
Settlement Date:	Expected to be February 26, 2021
Underlyings:	The S&P 500^® Index and the Russell 2000^® Index
Redemption Amount:	For each $1,000 principal amount of securities, $1,000 x (1 + Security Performance Factor)
Security Performance Factor:	The Security Performance Factor is expressed as a percentage and is calculated as follows:
	If (a) the Final Level of the Lowest Performing Underlying is equal to or greater than its Initial Level, then the Security Performance Factor will equal the lesser of (i) Maximum Return and (ii) Underlying Return of the Lowest Performing Underlying; (b) the Final Level of the Lowest Performing Underlying is less than its Initial Level but equal to or greater than its Buffer Level, then the Security Performance Factor will equal the absolute value of the Underlying Return of the Lowest Performing Underlying; or (c) the Final Level of the Lowest Performing Underlying is less than its Buffer Level, then the Security Performance Factor will equal the sum of (i) the Underlying Return plus (ii) the Buffer Amount.
Lowest Performing Underlying:	The Underlying with the lowest Underlying Return.
Underlying Return:	For each Underlying, [Final Level-Initial Level/Initial Level]
Buffer Level**:	For each Underlying, expected to be approximately 85% of the Initial Level of such Underlying
Buffer Amount**:	Expected to be 15%
Maximum Return**:	Expected to be at least 16%
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
Valuation Date:	August 23, 2023
Maturity Date:	August 28, 2023
CUSIP:	22552XAH6
Fees:	Certain fiduciary accounts may pay a purchase price of at least $972.50 per $1,000 principal amount of securities. Credit Suisse Securities (USA) LLC and any agent (the “Agents”) may receive varying discounts and commissions of up to $30 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. CSSU or another broker or dealer will forgo some or all discounts and commissions with respect to the sales of securities into certain fiduciary accounts.
Credit Suisse currently estimates the value of each $1,000 principal amount of the securities on the Trade Date will be between $900 and $950 (as determined by reference to our pricing models and the rate we are currently paying to borrow funds through issuance of the securities (our “internal funding rate”)). This range of estimated values reflects terms that are not yet fixed. A single estimated value reflecting final terms will be determined on the Trade Date. * 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

Buffer Level of 85%**

Buffer Amount of approximately 15%** of the respective Initial Level for each Underlying

Maximum Return** of at least 16%

Hypothetical Returns at Maturity

Underlying Return of the Lowest Performing Underlying	Security Performance Factor⁽¹⁾		Redemption Amount per $1,000 Principal Amount⁽¹⁾⁽²⁾
50%		16%	$1,160
40%		16%	$1,160
30%		16%	$1,160
20%		16%	$1,160
16%		16%	$1,160
15%		15%	$1,150
10%		10%	$1,100
5%		5%	$1,050
0%		0%	$1,000
-5%		5%	$1,050
-10%		10%	$1,100
-15%		15%	$1,150
-16%		-1%	$990
-20%		-5%	$950
-30%		-15%	$850
-40%		-25%	$750
-50%		-35%	$650
-60%		-45%	$550

(1)

Assumes a Buffer Level of 85%,** Buffer Amount of 15%** and a Maximum Return of 16%**.

(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 of securities you hold. The Redemption Amount will be less than the principal amount of the securities you hold if the Final Level of the Lowest Performing Underlying is less than its Buffer Level. In such case, you will be exposed to any depreciation in the Lowest Performing Underlying from its Initial Level to its Final Level beyond its Buffer Level. Regardless of the amount of any payment you receive on the securities, your actual yield may be different in real value terms.

•

The securities and the payment of any amount due on the securities are subject to the credit risk of Credit Suisse.

•

The probability that the Final Level of the Lowest Performing Underlying will be less than its Buffer Level will depend on the volatility of such Underlying.

•

The securities do not pay interest.

•

The maximum Redemption Amount of the securities at maturity for each $1,000 principal amount of securities is $1,000 multiplied by the sum of one plus the Maximum Return.

•

If the Final Level of the Lowest Performing Underlying is less than its Initial Level but equal to or greater than its Buffer Level, the Redemption Amount payable at maturity will equal the principal amount of the securities you hold multiplied by the sum of one plus the absolute value of the Underlying Performance of the Lowest Performing Underlying.

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

Linked to the Performance of the Lowest Performing of the S&P 500^® Index and the Russell 2000^® Index

Risks Relating to the Estimated Value and Secondary Market Prices of the Securities

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 January 29, 2021, Underlying Supplement dated June 18, 2020, Product Supplement No. I–B dated June 18, 2020, Prospectus Supplement dated June 18, 2020 and Prospectus dated June 18, 2020 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.

This ‘FWP’ Filing	Date	Other Filings

	8/28/23
	8/23/23
	2/26/21	424B2, FWP
	2/23/21	424B2, 424B3, FWP
	2/22/21	424B2, FWP
	2/1/21	424B2, FWP
Filed on:	1/29/21	424B2, 424B3, FWP
	6/18/20	424B2, 6-K, EFFECT
		List all Filings

Credit Suisse AG – ‘FWP’ on 1/29/21 re: Credit Suisse AG

On: Friday, 1/29/21, at 4:55pm ET · Accession #: 950103-21-1316 · File #: 333-238458-02

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Free-Writing Prospectus — Rule 163 / 433
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