Credit Suisse plans 11.75% contingent coupon autocall reverse convertibles on three stocks

By Susanna Moon

Chicago, Sept. 7 – Credit Suisse AG, London Branch plans to price contingent coupon autocallable reverse convertible securities due March 18, 2021 linked to the least performing of the common stocks of Amazon.com Inc., Facebook, Inc. and Microsoft Corp., according to a 424B2 filing with the Securities and Exchange Commission.

The notes will pay a contingent quarterly coupon at an annual rate of 11.75% if each underlying index closes at or above its 70% coupon barrier on the observation date for that quarter.

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

The payout at maturity will be par unless any underlying stock closes below its 70% knock-in level, in which case investors will receive a number of shares of the worst performing stock 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 Sept. 13.

The Cusip number is 22549JWX4.

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