New Issue: Credit Suisse sells $500,000 autocallable reverse convertibles on U.S. Bancorp

By Kiku Steinfeld

Chicago, Oct. 29 – Credit Suisse AG, London Branch priced $500,000 of 7% autocallable reverse convertible securities due Oct. 27, 2022 linked to the common stock of U.S. Bancorp, according to a 424B2 filing with the Securities and Exchange Commission.

Interest is payable monthly.

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

The payout at maturity will be par unless the shares finish below the knock-in level, 69% of the initial share price, 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, an amount in cash equal to the value of those shares.

Credit Suisse Securities (USA) LLC is the agent.

Issuer:	Credit Suisse AG, London Branch
Issue:	Autocallable reverse convertible securities
Underlying stock:	U.S. Bancorp
Amount:	$500,000
Maturity:	Oct. 27, 2022
Coupon:	7% payable monthly
Price:	Par
Payout at maturity:	Par unless the shares finish below the 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, an amount in cash equal to the value of those shares
Call:	At par if shares close at or above initial share price on any quarterly trigger observation date after one year
Initial level:	$40.66
Knock-in price:	$28.0554, 69% of initial share price
Pricing date:	Oct. 23
Settlement date:	Oct. 27
Agent:	Credit Suisse Securities (USA) LLC
Fees:	1.75%
Cusip:	22550MLD9

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