By Wendy Van Sickle
Columbus, Ohio, Oct. 3 – Credit Suisse AG, London Branch priced $3.27 million of 19.54% autocallable reverse convertible securities due March 29, 2018 linked to least performing of two stocks, according to a 424B2 filing with the Securities and Exchange Commission.
The stocks are Ubiquiti Networks, Inc. and Yandex NV.
Credit Suisse will pay the coupon monthly.
The notes will be called at par if the shares of the least performing stock close at or above their initial price on a monthly observation date beginning Dec. 27, 2017.
The payout at maturity will be par unless either of the stocks finishes below its 75% knock-in level, in which case investors will receive a number of shares of the least performing stock equal to $1,000 divided by the 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.
| Issuer: | Credit Suisse AG, London Branch
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| Issue: | Autocallable reverse convertible securities
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| Underlying stocks: | Ubiquiti Networks, Inc. and Yandex NV
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| Amount: | $3.27 million
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| Maturity: | March 29, 2018
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| Coupon: | 24%, payable monthly
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| Price: | Par
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| Payout at maturity: | Par unless either stock finishes below knock-in price, in which case shares of least performing stock equal to $1,000 divided by initial share price or amount in cash equal to value of those shares
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| Call: | At par plus the coupon if shares close at or above initial share price on any monthly trigger observation date beginning Dec. 27, 2017
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| Initial share prices: | $53.84 for Ubiquiti, $31.71 for Yandex
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| Knock-in prices: | $40.38 for Ubiquiti, $23.7825 for Yandex; or 75% of initial share prices
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| Pricing date: | Sept. 27
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| Settlement date: | Sept. 29
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| Agent: | Credit Suisse Securities (USA) LLC
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| Fees: | 2.5%
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| Cusip: | 22549JLE8
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