New Issue: Credit Suisse sells $1 million of 9% reverse convertibles tied to Yelp

By Susanna Moon

Chicago, July 5 – Credit Suisse AG, London Branch priced $1 million of 9% reverse convertible notes due Oct. 2, 2018 linked to the common stock of Yelp Inc., according to a 424B2 filing with the Securities and Exchange Commission.

Interest is payable monthly.

The payout at maturity will be par unless the underlying stock finishes below its initial level and ever closes below its 65.959% knock-in level during the life of the notes, in which case investors will receive a number of 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 notes
Underlying stocks:	Yelp Inc. (Symbol: YELP)
Amount:	$1 million
Maturity:	Oct. 2, 2018
Contingent coupon:	9%, payable monthly
Price:	Par
Payout at maturity:	Par unless stock ends below initial level and ever closes below, in which case a number of shares equal to $1,000 divided by initial share price
Initial price:	$40.04
Barrier price:	$26.41, 65.959% of initial price
Strike date:	June 25
Pricing date:	June 26
Settlement date:	June 29
Agent:	Credit Suisse Securities (USA) LLC
Fees:	1.2%
Cusip:	22549JUW8

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