New Issue: Credit Suisse sells $981,000 contingent coupon autocallable reverse convertibles on three stocks

By Wendy Van Sickle

Columbus, Ohio, April 6 – Credit Suisse AG, London Branch priced $981,000 of contingent coupon autocallable reverse convertibles due March 25, 2024 linked to the lowest performing of the common stock of Hartford Financial Services Group, Inc., MetLife, Inc. and Manulife Financial Corp., according to a 424B2 filing with the Securities and Exchange Commission.

The notes will pay a quarterly coupon at an annualized rate of 8% if each stock closes at or above its coupon barrier price, 60% of its initial price, on the related observation date.

The notes will be called at par plus the coupon due if all stocks close at or above their initial prices on any quarterly call observation date.

If all stocks finish at or above their knock-in prices, 60% of their initial prices, the payout will be par plus the final coupon. If any stock finishes below its knock-in price, investors will be fully exposed to the losses of the least-performing stock from its initial level, with the proceeds delivered in shares of the least-performing stock.

Credit Suisse Securities (USA) LLC is the agent.

Issuer:	Credit Suisse AG, London Branch
Issue:	Contingent coupon autocallable reverse convertibles
Underlying stocks:	Hartford Financial Services Group, Inc., MetLife, Inc. and Manulife Financial Corp.
Amount:	$981,000
Maturity:	March 25, 2024
Coupon:	8% per year, payable quarterly if each stock closes at or above its coupon barrier price on the related observation date
Price:	Par
Payout at maturity:	Par plus the final coupon if no stock finishes below its knock-in price; if any stock finishes below its knock-in price, par plus the decline of the least-performing stock from its initial level, with proceeds delivered in shares of the least-performing stock
Call:	At par plus the coupon due if all stocks close at or above their initial prices on any quarterly call observation date
Initial share prices:	$68.15 for Hartford, $61.76 for MetLife and $21.84 for Manulife
Knock-in/coupon barrier prices:	$40.89 for Hartford, $37.056 for MetLife and $13.104 for Manulife; 60% of initial prices
Pricing date:	March 19
Settlement date:	March 25
Agent:	Credit Suisse Securities (USA) LLC
Fees:	2.5%
Cusip:	22550MSL4

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