# EDGAR Filing Document

**Accession Number:** 0001053092
**File Stem:** 0001104659-23-000913
**Filing Date:** 2023-1
**Character Count:** 9481
**Document Hash:** 9def3f7990e19d79b564bd4daf9d4e39
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001104659-23-000913.hdr.sgml**: 20230104

**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

**Filed Pursuant to Rule 433**

**Issuer Free Writing Prospectus**

**Registration Statement No. 333-238458**

**January 4, 2023**

![](tm2229663d3_fwpimg001.jpg)

**$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<sup>(1)</sup>:** | 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<sup>(2)</sup>:** | January 9, 2023 (T+3) |
| **Maturity Date:** | January 9, 2025 |
| **Principal Amount:** | $1250000000 |
| **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.<br> AmeriVet Securities, Inc.<br> C.L. King & Associates, Inc.<br> Drexel Hamilton, LLC<br> 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**

![](tm2229663d3_fwpimg001.jpg)

**$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<sup>(1)</sup>:** | 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<sup>(2)</sup>:** | January 9, 2023 (T+3) |
| **Maturity Date:** | February 15, 2028 |
| **Principal Amount:** | $2500000000 |
| **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.<br> AmeriVet Securities, Inc.<br> C.L. King & Associates, Inc.<br> Drexel Hamilton, LLC<br> 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.