Credit Suisse plans 12.45% reverse convertible autocallables on stocks

By Marisa Wong

Morgantown, W.Va., Nov. 16 – Credit Suisse AG, London Branch plans to price 12.45% autocallable reverse convertible securities due Nov. 21, 2018 linked to a basket of three stocks, according to a 424B2 filing with the Securities and Exchange Commission.

The underlying companies are Advanced Micro Devices, Inc., Bank of America Corp. and United Rentals, Inc.

Interest is payable monthly.

The notes will be called at par if each stock closes at or above its initial price on any monthly observation date after three months.

The payout at maturity will be par unless any stock finishes below its 60% 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 Nov. 17.

The Cusip number is 22549JMJ6.

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