Credit Suisse plans 8% autocall reverse convertibles tied to AT&T

By Susanna Moon

Chicago, May 18 – Credit Suisse AG, London Branch plans to price 8% autocallable reverse convertible securities due Aug. 26, 2019 linked to AT&T Inc. stock, according to a 424B2 filing with the Securities and Exchange Commission.

Interest is payable monthly.

The notes will be called at par if each stock closes at or above its initial level on any quarterly review date beginning Nov. 20, 2018.

The payout at maturity will be par unless any stock finishes below its 80% 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 underwriter.

The notes will price on May 22.

The Cusip number is 22549JTD2.

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