Credit Suisse plans 11.1% contingent coupon autocall reverse convertibles tied to Marathon Oil

By Susanna Moon

Chicago, July 30 – Credit Suisse AG, London Branch plans to price contingent coupon autocallable reverse convertible securities due Nov. 22, 2019 linked to Marathon Oil Corp. stock, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will pay a contingent quarterly coupon at an annual rate of 11.1% if the underlying stock closes at or above its 60% coupon barrier on the observation date for that quarter.

The notes will be called at par if the stock closes at or above its initial level on any quarterly review date after six months.

The payout at maturity will be par unless the stock finishes below its initial level and ever closes below its 60% knock-in level during the life of the notes, 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 underwriter.

The notes will price on Aug. 17.

The Cusip number is 22549JVV9.

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