Credit Suisse plans autocallable reverse convertibles tied to Netflix

New York, Dec. 7 – Credit Suisse AG, London Branch plans to price autocallable reverse convertible securities due Dec. 27, 2016, linked to the common stock of Netflix, Inc., according to a 424B2 filing with the Securities and Exchange Commission.

The interest rate is expected to be 10% to 12% and will be set at pricing. Interest will be payable monthly.

The notes will be automatically called at par of $1,000 if Netflix shares close at or above the initial share price on June 21, 2016, or Sept. 21, 2016.

The payout at maturity will be par unless Netflix shares close at or below the knock-in level, 50% of the initial share price, on any day during the life of the notes and finish below the initial share price, in which case investors will receive a number of Netflix 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 Dec. 21 and settle on Dec. 24.

The Cusip number is 22546VSE7.

The estimated initial value is between $950 and $980 per $1,000 principal amount.

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