Credit Suisse plans 30% reverse convertibles linked to Overstock, Roku

By Angela McDaniels

Tacoma, Wash., March 26 – Credit Suisse AG, London Branch plans to price autocallable reverse convertible securities due March 30, 2020 linked to the lesser performing of the common stock of Overstock.com, Inc. and the class A common stock of Roku, Inc., according to a 424B2 filing with the Securities and Exchange Commission.

The interest rate is expected to be 30% per year and will be set at pricing. Interest will be payable monthly.

Beginning June 26, the notes will be automatically called at par if each stock closes at or above its initial share price on any monthly trigger observation date.

The payout at maturity will be par unless either stock finishes below its knock-in price, 55% of its initial share price, in which case investors will receive a number of shares of the lesser-performing stock equal to $1,000 divided by that stock’s 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.

The notes will price March 27.

The Cusip number is 22549JJ35.

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