# EDGAR Filing Document

**Accession Number:** 0001053092
**File Stem:** 0000950103-23-002177
**Filing Date:** 2023-2
**Character Count:** 13761
**Document Hash:** d10304f68ff28b75984b69df44c507b5
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000950103-23-002177.hdr.sgml**: 20230210

**ACCESSION NUMBER**: 0000950103-23-002177

**CONFORMED SUBMISSION TYPE**: FWP

**PUBLIC DOCUMENT COUNT**: 3

**FILED AS OF DATE**: 20230210

**DATE AS OF CHANGE**: 20230210

**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:** 23613286

**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

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|:---|:---|
| Filed pursuant to Rule 433<br> Registration Statement No. 333-238458-02<br> FINANCIAL PRODUCTS<br> FACTSHEET (K2225) | ![](image_001.jpg) |

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Absolute Return Buffered Accelerated Securities<br>Linked to the Performance of the S&P 500<sup>®</sup> Index<br>Offering Period: February 10, 2023 – February 27, 2023<br>

**Summary Product Terms**

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| | |
|:---|:---|
| CUSIP | 22553QR82 |
| Issuer | Credit Suisse AG (London branch) |
| Principal Amount | $1,000 per security |
| Term | 2 years |
| Trade Date | February 28, 2023 |
| Settlement Date | March 3, 2023 |
| Valuation Date | February 28, 2025 |
| Maturity Date | March 5, 2025 |
| Underlying | S&P 500<sup>®</sup> Index |
| Initial Level | The closing level of the Underlying on the Trade Date |
| Final Level | The closing level of the Underlying on the Valuation Date |
| Underlying Return | (Final Level – Initial Level) / Initial Level |
| Upside Participation Rate | Expected to be 200% (to be determined on the Trade Date) |
| Maximum Return | Expected to be at least 22% (to be determined on the Trade Date) |
| Buffer Level | Approximately 80% of the Initial Level |
| Buffer Amount | Expected to be 20% (to be determined on the Trade Date) |

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**Hypothetical Redemption Amounts**

\*The hypothetical Redemption Amounts set forth below are for illustrative purposes only and may not be the actual returns applicable to you. They assume (i) an Upside Participation rate of 200%, (ii) a Maximum Return of 22%, (iii) a Buffer Level of 80% and (iv) a Buffer Amount of 20%. The numbers appearing in the table have been rounded for ease of analysis.

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| | | |
|:---|:---|:---|
| Underlying Return of Lowest Performing Underlying | Return on the Securities\* | Redemption Amount per $1,000 Principal Amount |
| 50% | 22% | $1220 |
| 40% | 22% | $1220 |
| 30% | 22% | $1220 |
| 20% | 22% | $1220 |
| 11% | 22% | $1220 |
| 10% | 20% | $1200 |
| 5% | 10% | $1100 |
| 0% | 0% | $1000 |
| -5% | 5% | $1050 |
| -10% | 10% | $1100 |
| -20% | 20% | $1200 |
| -21% | -1% | $990 |
| -30% | -10% | $900 |
| -40% | -20% | $800 |
| -50% | -30% | $700 |

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**Payoff Description**

***Redemption Amount at maturity***

If, on the Valuation Date, the Underlying closes at or above the Initial Level, you will receive the **Principal Amount plus a return based on the leveraged upside performance of the Underlying, subject to the Maximum Return.** 

If the Underlying closes below the Initial Level and at or above the Buffer Level, you will receive the **Principal Amount multiplied by the sum of one plus the absolute value of the Underlying Return**.

However, if the Underlying closes below the Buffer Level, you will be **exposed to any depreciation in the Underlying from the Initial Level to the Final Level beyond the Buffer Level. You could lose up to $800 per Principal Amount.**

Any payment on the securities is subject to our ability to pay our obligations as they become due.

Final terms will be determined on the Trade Date and will be provided in the pricing supplement. The actual Upside Participation Rate and Maximum Return will not be lower than the rate displayed in this document and the Buffer Level will not be greater than the level set forth herein. Please see the accompanying preliminary pricing supplement for more information.

**Selected Risk Considerations**<br>

The risks set forth below 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 "Selected Risk Considerations" section 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.

·  ***Risks Relating to the Securities Generally*** 

&nbsp;&nbsp;&nbsp;&nbsp;o If the Final Level is less than the Buffer Level, you will lose 1% of your principal for each 1% decline from the Initial Level to
the Final Level beyond the Buffer Level. You could lose up to $800 per $1,000 principal amount of securities. Regardless of the amount
of any payment you receive on the securities, your actual yield may be different in real value terms.

&nbsp;&nbsp;&nbsp;&nbsp;o The value of the securities and the payment of any amount due on the securities are subject to the credit risk of Credit Suisse.

&nbsp;&nbsp;&nbsp;&nbsp;o The securities do not pay interest.

&nbsp;&nbsp;&nbsp;&nbsp;o Regardless of the appreciation in the level of the Underlying, which may be significant, the maximum Redemption Amount for each $1,000
principal amount of securities will not exceed $1,000 multiplied by the sum of one plus the Maximum Return.

&nbsp;&nbsp;&nbsp;&nbsp;o If the Final Level is less than the Initial Level but equal to or greater than the Buffer Level, the Redemption Amount will be subject
to an embedded cap.

&nbsp;&nbsp;&nbsp;&nbsp;o The probability that the Final Level will be less than the Buffer Level will depend on the volatility of the Underlying.

&nbsp;&nbsp;&nbsp;&nbsp;o The Redemption Amount will be less than the principal amount of securities if the Underlying closes below the Buffer Level on the
Valuation Date.

&nbsp;&nbsp;&nbsp;&nbsp;o The U.S. federal tax consequences of an investment in the securities are unclear.

·  ***Risks Relating to the Underlying*** 

&nbsp;&nbsp;&nbsp;&nbsp;o As a holder of the securities, you will not have voting rights or rights to receive cash dividends or other distributions with respect
to the equity securities comprising the Underlying. Your return on the securities will not reflect the return you would realize if you
actually owned the equity securities that comprise the Underlying.

&nbsp;&nbsp;&nbsp;&nbsp;o Government regulatory action, including legislative acts and executive orders, could result in material changes to the Underlying
and could negatively affect your return on the securities.

·  ***Risks Relating to the Issuer*** 

&nbsp;&nbsp;&nbsp;&nbsp;o As a Swiss bank, Credit Suisse is subject to regulation by governmental agencies, supervisory authorities and self-regulatory organizations
in Switzerland. Such regulation is increasingly more extensive and complex and subjects Credit Suisse to risks.

·  ***Risks Relating to Conflicts of Interest*** 

&nbsp;&nbsp;&nbsp;&nbsp;o We and our affiliates play a variety of roles in connection with the issuance of the securities, including acting as calculation agent
and as agent of the Issuer of the securities, hedging our obligations under the securities and determining the estimated value of the
securities. The agent for this offering, Credit Suisse Securities (USA) LLC ("CSSU"), is our affiliate. In accordance with
FINRA Rule 5121, CSSU may not make sales in this offering to any discretionary accounts without the prior written approval of the customer.

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

&nbsp;&nbsp;&nbsp;&nbsp;o The securities will be affected by a number of economic, financial, political, regulatory, judicial and other factors that may either
offset or magnify each other.

&nbsp;&nbsp;&nbsp;&nbsp;o Prior to maturity, costs such as concessions and hedging may affect the value of the securities.

&nbsp;&nbsp;&nbsp;&nbsp;o Credit Suisse currently estimates the value of each $1,000 principal amount of the securities on the Trade Date will be between $940
and $990 (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")), and the estimated value of the securities on the Trade Date may be less than the
price to public.

&nbsp;&nbsp;&nbsp;&nbsp;o If on the Trade Date the internal funding rate we use in structuring notes such as these securities is lower than the interest rate
that is reflected in the yield on our conventional debt securities of similar maturity in the secondary market (our "secondary market
credit spreads"), we expect that the economic terms of the securities will generally be less favorable to you than they would have
been if our secondary market credit spread had been used in structuring the securities.

&nbsp;&nbsp;&nbsp;&nbsp;o The securities will not be listed on any securities exchange. Credit Suisse (or its affiliates) intends to offer to purchase the securities
in the secondary market but is not required to do so. Many factors, most of which are beyond the control of the Issuer, will influence
the value of the securities and the price at which the securities may be purchased or sold in the secondary market. For example, the creditworthiness
of the Issuer, including actual or anticipated downgrades to the Issuer's credit ratings, may be a contributing factor.

**Important Notice**

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 February 10, 2023, 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: [https://www.sec.gov/Archives/edgar/data/1053092/000095010323002138/dp188701_424b2-k2225.htm](https://www.sec.gov/Archives/edgar/data/1053092/000095010323002138/dp188701_424b2-k2225.htm)

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. Please note that "we" and "our" refer to Credit Suisse AG and its affiliates in this document.

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| <br>**CREDIT SUISSE SECURITIES (USA) LLC** <br>**credit-suisse.com**<br>|
| Copyright© 2023 Credit Suisse Group AG and/or its affiliates. All rights reserved. |

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