Credit Suisse plans to price autocallable reverse convertible securities linked to Microsoft

By Wendy Van Sickle

Columbus, Ohio, April 13 – Credit Suisse AG, London Branch plans to price 4% to 5% autocallable reverse convertible securities due April 24, 2017 linked to common stock of Microsoft Corp., according to a 424B2 filing with the Securities and Exchange Commission.

Interest is payable quarterly.

The notes will be called at par if Microsoft shares close at or above the initial share price on any quarterly observation date.

The payout at maturity will be par unless the shares close at or below the knock-in price, which is expected to be about 75% of the initial share price and will be set at pricing, in which case investors will receive a number of Microsoft 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 (Cusip: 22548Q3U7) will price on April 15 and settle on April 22.

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