Credit Suisse plans 11%-13% autocall reverse convertibles on gold fund

By Susanna Moon

Chicago, Jan. 11 – Credit Suisse AG, London Branch plans to price 11% to 13% autocallable reverse convertible securities due Jan. 25, 2018 linked to the VanEck Vectors Gold Miners exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission. The coupon will be set at pricing.

Interest is payable monthly.

The notes will be called at par if the fund closes at or above the initial share price on July 20, 2017 or Oct. 20, 2017.

The payout at maturity will be par unless the fund closes at or below the 65% knock-in level on any day during the life of the notes and finishes below its initial level, 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.

The notes will price on Jan. 20 and settle on Jan. 25.

The Cusip number is 22549JDW7.

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