Credit Suisse plans 7% autocallable reverse convertibles on Chevron

New York, July 12 – Credit Suisse AG, London Branch plans to price 7% contingent coupon autocallable reverse convertible securities due Oct. 26, 2018 linked to the common stock of Chevron Corp., according to a 424B2 filing with the Securities and Exchange Commission.

Interest is payable monthly at an annual rate of 7% if the stock closes at or above its 75% coupon barrier level on a monthly observation date.

The notes will be called at par if Chevron shares close at or above their initial price on Jan. 23, 2018, April 23, 2018 or July 23, 2018.

The payout at maturity will be par unless the shares finish below the initial level and close below the 75% knock-in level any day during the life of the notes, in which case investors will receive a number of Chevron shares equal to $1,000 divided by the initial share price or, at the issuer’s option, an amount in cash equal to the value of those shares.

Credit Suisse Securities (USA) LLC is the agent.

The notes will price on July 21 and settle on July 26.

The Cusip number is 22549JJC5.

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