Credit Suisse plans 11.66% reverse convertibles linked to four stocks

By Angela McDaniels

Tacoma, Wash., Oct. 23 – Credit Suisse AG, London Branch plans to price autocallable reverse convertible securities due Oct. 31, 2018 linked to the least performing of the class A common stock of Alphabet Inc., the common stock of Apple Inc., the class A common stock of Facebook, Inc. and the common stock of Nvidia Corp., according to a 424B2 filing with the Securities and Exchange Commission.

The interest rate is expected to be 11.66% and will be set at pricing. Interest will be payable monthly.

The notes will be automatically called at par if each stock closes at or above its initial share price on any quarterly trigger observation date.

The payout at maturity will be par unless any stock finishes below its knock-in level, 70% of its initial share price, in which case investors will receive a number of shares of the least-performing stock equal to $1,000 divided by that stock’s 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 Oct. 27.

The Cusip number is 22549JLS7.

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