By Wendy Van Sickle
Columbus, Ohio, April 1 – Credit Suisse AG, London Branch priced $1.44 million of 30% autocallable reverse convertible securities due March 30, 2020 linked to the least performing of two stocks, according to a 424B2 filing with the Securities and Exchange Commission.
The stocks are Overstock.com, Inc. and Roku, Inc.
Interest is payable monthly.
The notes will be called at par if the shares of the least performing stock close at or above its initial price on any monthly trigger observation date starting in June.
The payout at maturity will be par unless either of the stocks finishes below its 55% knock-in level, in which case investors will receive a number of shares of the least performing stock 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
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| Issue: | Autocallable reverse convertible securities
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| Underlying stocks: | Overstock.com, Inc. and Roku, Inc.
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| Amount: | $1.44 million
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| Maturity: | March 30, 2020
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| Coupon: | 30% per year, payable monthly if each stock closes above coupon barrier on observation date
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| Price: | Par
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| Payout at maturity: | Par unless either stock finishes below knock-in price, in which case shares of least performing stock equal to $1,000 divided by initial share price or amount in cash equal to value of those shares
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| Call: | At par plus the coupon if shares close at or above initial share price on any monthly trigger observation date starting in June
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| Initial prices: | $16.47 for Overstock, $62.18 for Roku
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| Knock-in levels: | $9.0585 for Overstock, $34.199 for Roku; 55% of initial levels
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| Pricing date: | March 27
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| Settlement date: | March 29
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| Agent: | Credit Suisse Securities (USA) LLC
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| Fees: | 2.875%
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| Cusip: | 22549JJ35
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