Credit Suisse plans autocallable reverse convertibles on three stocks

By Marisa Wong

Morgantown, W.Va., July 16 – Credit Suisse AG, London Branch plans to price 14% autocallable reverse convertible securities due July 19, 2019 linked to the lowest performing of the common stocks of Freeport-McMoRan Inc., RingCentral Inc. and U.S. Concrete Inc., according to a 424B2 filing with the Securities and Exchange Commission.

Interest is payable monthly, with the exact coupon to be set at pricing.

The notes will be called at par if each stock closes at or above its initial level on any monthly trigger observation date beginning Oct. 17.

The payout at maturity will be par unless any stock finishes below its 65% knock-in level, in which case investors will receive a number of shares of the worst performing stock 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.

The notes will price on July 17.

The Cusip number is 22549JVK3.

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