Credit Suisse to sell autocallable reverse convertibles on Walgreens

By Tali Rackner

Minneapolis, Feb. 14 – Credit Suisse AG, London Branch plans to price contingent coupon autocallable reverse convertible securities due May 21, 2019 linked to the common stock of Walgreens Boots Alliance, Inc., according to a 424B2 filing with the Securities and Exchange Commission.

The notes will pay a contingent monthly coupon at an expected annual rate of 7.15% if the stock closes at or above its expected 75% coupon barrier level on an observation date for that month. The exact coupon barrier level will be set at pricing.

The notes will be called at par if the shares close at or above the initial level on Aug. 16, 2018, Nov. 16, 2018 or Feb. 15, 2019.

The payout at maturity will be par unless the shares finish below the initial level and close below the expected 75% knock-in level any day during the life of the notes, in which case investors will receive a number of Walgreens shares 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. The exact knock-in level will be set at pricing.

Credit Suisse Securities (USA) LLC is the agent.

The notes will price on Feb. 15 and settle on Feb. 21.

The Cusip number is 22549JPS3.

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