New Issue: Credit Suisse sells $4.97 million reverse convertibles on Schlumberger

By Devika Patel

Knoxville, Tenn., Dec. 5 – Credit Suisse AG, London Branch priced $4.97 million of 9.7% reverse convertible securities due Dec. 5, 2017 linked to Schlumberger Ltd. common shares, according to a 424B2 filing with the Securities and Exchange Commission.

Interest is payable on March 1, 2017, May 31, 2017, Aug. 30, 2017 and at maturity.

The payout at maturity will be par unless Schlumberger shares close at or below the knock-in price, 75% of the initial share price, during the life of the notes and finish below the initial share price, in which case investors will receive a number of Schlumberger 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:	Reverse convertible securities
Underlying stock:	Schlumberger Ltd. (Symbol: SLB)
Amount:	$4,969,000
Maturity:	Dec. 5, 2017
Coupon:	9.7%, payable on March 1, 2017, May 31, 2017, Aug. 30, 2017 and Dec. 5, 2017
Price:	Par
Payout at maturity:	Par unless Schlumberger stock closes at or below knock-in price during life of notes and finish below initial share price, in which case number of Schlumberger shares equal to $1,000 divided by initial share price
Initial share price: $79.92
Knock-in price:	$59.94, 75% of initial share price
Pricing date:	Nov. 30
Settlement date:	Dec. 5
Agent:	Credit Suisse Securities (USA) LLC
Fees:	0.25%
Cusip:	22549JDG2

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