New Issue: Credit Suisse sells $662,000 autocallable reverse convertibles on Apple

By Wendy Van Sickle

Columbus, Ohio, Jan. 21 – Credit Suisse AG, London Branch priced $662,000 of 8.5% autocallable reverse convertible securities due Jan. 23, 2017 linked to the common stock of Apple Inc., according to a 424B2 filed with the Securities and Exchange Commission.

Interest is payable monthly.

The notes will be called at par if Apple shares close at or above the initial share price on either of two call dates.

The payout at maturity will be par unless Apple shares close below the knock-in price, 75% of the initial share price, during the life of the notes and finish below the initial share price, in which case investors will receive a number of Apple shares equal to $1,000 divided by the initial share price or, at the issuer’s option, the cash equivalent.

Credit Suisse is the agent.

Issuer:	Credit Suisse AG, London Branch
Issue:	Autocallable reverse convertible securities
Underlying stock:	Apple, Inc. (Symbol: AAPL)
Amount:	$662,000
Maturity:	Jan. 23, 2017
Coupon:	8.5%, payable monthly
Price:	Par
Payout at maturity:	Par unless Apple stock falls and ever closes at or below knock-in price during life of notes, in which case Apple shares
Call:	At par if Apple shares close at or above initial share price on July 19 or Oct. 19, 2016
Initial level:	$96.66
Knock-in price:	$72.495, 75% of initial share price
Pricing date:	Jan. 18
Settlement date:	Jan. 23
Agent:	Credit Suisse
Fees:	2.2%
Cusip:	22546VSG2

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