By Devika Patel
Knoxville, Tenn., Nov. 29 – Credit Suisse AG, London Branch, priced $286,000 of 9% autocallable reverse convertible securities due Nov. 28, 2017 linked to Skechers USA Inc. class A common shares, according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable monthly.
The notes will be automatically called at par if Skechers USA shares close at or above the initial share price on either May 24 or Aug. 23, 2017.
The payout at maturity will be par unless Skechers USA shares close at or below the knock-in price, about 60% 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 Skechers USA 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 securities
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| Underlying stock: | Skechers USA Inc. (Symbol: SKX)
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| Amount: | $286,000
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| Maturity: | Nov. 28, 2017
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| Coupon: | 9%, payable monthly
|
| Price: | Par
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| Payout at maturity: | Par unless Skechers USA stock falls and ever closes at or below knock-in price during life of notes, in which case 44.7027 Skechers USA shares
|
| Call: | At par if Skechers USA shares close at or above initial share price on May 24 or Aug. 23, 2017
|
| Initial level: | $22.37
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| Knock-in price: | $13.42, about 60% of initial share price
|
| Pricing date: | Nov. 22
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| Settlement date: | Nov. 28
|
| Agent: | Credit Suisse Securities (USA) LLC
|
| Fees: | 2.1%
|
| Cusip: | 22549JDB3
|
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