New Issue: Credit Suisse sells $768,000 7.75% autocallable reverse convertibles tied to Facebook

By Susanna Moon

Chicago, March 15 – Credit Suisse AG, London Branch priced $768,000 of 7.75% autocallable reverse convertible notes due June 5, 2019 linked to the class A common stock of Facebook, Inc., according to a 424B2 filing with the Securities and Exchange Commission.

Interest is payable monthly.

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

The payout at maturity will be par unless the shares finish below the initial level and ever closes below the 70% knock-in level any day during the life of the notes, in which case investors will receive a number of Facebook 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 agent.

Issuer:	Credit Suisse AG, London Branch
Issue:	Autocallable reverse convertible notes
Underlying stock:	Facebook, Inc. (Symbol: FB)
Amount:	$768,000
Maturity:	June 5, 2019
Contingent coupon:	7.75%, payable monthly
Price:	Par
Payout at maturity:	Par unless stock falls and ever closes at or below barrier during life of notes, in which case a number of Facebook shares equal to $1,000 divided by the initial share price
Call:	At par plus the coupon if stock closes at or above initial share price on any quarterly observation date beginning Aug. 27, 2018
Initial price:	$178.32
Barrier price:	$124.824, 70% of initial price
Pricing date:	Feb. 28
Settlement date:	March 5
Agent:	Credit Suisse Securities (USA) LLC
Fees:	2.25%
Cusip:	22549JQK9

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