New Issue: Credit Suisse sells $1 million 9% three-month step reverse convertibles on iRobot

By Susanna Moon

Chicago, July 9 – Credit Suisse AG, London Branch priced $1 million of 9% step reverse convertible securities due Oct. 3, 2018 linked to iRobot Corp. stock, according to a 424B2 filing with the Securities and Exchange Commission.

Interest is payable monthly.

If the stock finishes above its initial level, the payout at maturity will be par plus 1%.

Otherwise, the payout will be par unless the shares ever close below the 59.52% knock-in level on any day during the life of the notes, 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:	Step reverse convertible securities
Underlying stock:	iRobot Corp. (Symbol: IRBT)
Amount:	$1 million
Maturity:	Oct. 3, 2018
Coupon:	9%, payable monthly
Price:	Par
Payout at maturity:	If stock gains, par plus 1%; otherwise, par unless shares ever close below 60.9634% knock-in level, in which case number of shares equal to $1,000 divided by initial share price
Initial level:	$76.63
Knock-in price:	$45.61, 59.52% of initial share price
Strike date:	June 27
Pricing date:	June 28
Settlement date:	July 3
Agent:	Credit Suisse Securities (USA) LLC
Fees:	1%
Cusip:	22549JVA5

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