New Issue: Credit Suisse sells $1.02 million reverse convertibles linked to Intel

By Marisa Wong

Morgantown, W.Va., July 19 – Credit Suisse AG, London Branch priced $1.02 million of 7% autocallable reverse convertible securities due Oct. 7, 2019 linked to the common stock of Intel Corp., according to a 424B2 filing with the Securities and Exchange Commission.

Interest is payable monthly.

The notes will be called at par if the shares close at or above the initial share price on Jan. 2, April 2, 2019 or July 1, 2019.

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

Credit Suisse Securities (USA) LLC is the agent.

Issuer:	Credit Suisse AG, London Branch
Issue:	Autocallable reverse convertible securities
Underlying stock:	Intel Corp. (Symbol: INTC)
Amount:	$1,021,000
Maturity:	Oct. 7, 2019
Coupon:	7%, payable monthly
Price:	Par
Payout at maturity:	Par unless stock finishes below initial price and closes below knock-in price on any day during life of notes, in which case a number of Intel shares equal to $1,000 divided by the initial share price
Call:	At par if shares close at or above initial share price on Jan. 2, April 2, 2019 or July 1, 2019
Initial price:	$49.71
Knock-in price:	$37.2825, 75% of initial price
Pricing date:	June 29
Settlement date:	July 5
Agent:	Credit Suisse Securities (USA) LLC
Fees:	2.25%
Cusip:	22549JUH1

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