New Issue: Credit Suisse sells $1 million reverse convertibles on United States Steel

By Wendy Van Sickle

Columbus, Ohio, July 29 – Credit Suisse AG, London Branch priced $1 million of 9% reverse convertible securities due Oct. 27, 2021 linked to the United States Steel Corp. common shares, according to a 424B2 filing with the Securities and Exchange Commission.

Interest is payable monthly.

The payout at maturity will be par unless the shares finish below the 67.689% knock-in 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.

Issuer:	Credit Suisse AG, London Branch
Issue:	Reverse convertible securities
Underlying stock:	United States Steel Corp.
Amount:	$1 million
Maturity:	Oct. 27, 2021
Contingent coupon:	9%, payable monthly
Price:	Par
Payout at maturity:	Par unless stock falls below 67.689% knock-in level, in which case a number of shares equal to $1,000 divided by the initial share price or, at the issuer’s option, the cash equivalent
Initial level:	$23.15
Knock-in:	$15.67, 67.689% of initial level
Pricing date:	July 23
Settlement date:	July 27
Agent:	Credit Suisse Securities (USA) LLC
Fees:	1.1%
Cusip:	22550MVH9

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