By Susanna Moon
Chicago, July 19 – Credit Suisse AG, London Branch priced $2.08 million of 16.35% autocallable reverse convertible notes due July 17, 2019 linked to the American Depositary Shares of iQIYI Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable monthly.
The notes will be called at par if the stock closes at or above its initial level on any observation date.
The payout at maturity will be par unless the underlying stock finishes below its 60% knock-in level, in which case investors will receive a number of shares equal to $1,000 divided by the initial share price or, at the issuer’s option, the cash equivalent.
Credit Suisse Securities (USA) LLC is the agent.
| Issuer: | Credit Suisse AG, London Branch
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| Issue: | Autocallable reverse convertible notes
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| Underlying stock: | iQIYI Inc. (Symbol: IQ)
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| Amount: | $2,081,000
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| Maturity: | July 17, 2019
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| Coupon: | 16.35%, payable monthly
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| Price: | Par
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| Payout at maturity: | Par unless stock closes below 60% knock-in level, in which case number of shares equal to $1,000 divided by initial share price
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| Call: | At par if stock closes at or above initial share price on any review date
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| Initial level: | $33.95
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| knock-in level: | $20.37, 60% of initial level
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| Pricing date: | July 13
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| Settlement date: | July 17
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| Agent: | Credit Suisse Securities (USA) LLC
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| Fees: | 2.875%
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| Cusip: | 22549JVF4
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