New Issue: Credit Suisse sells $1 million reverse convertibles on Enphase Energy

By Wendy Van Sickle

Columbus, Ohio, Oct. 1 – Credit Suisse AG, London Branch priced $1 million of 9% reverse convertible securities due Oct. 22, 2021 linked to the Enphase Energy, Inc. common shares, according to a 424B2 filing with the Securities and Exchange Commission.

Interest is payable monthly.

The payout at maturity will be par unless the shares finish below the 62.114% knock-in level, 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:	Reverse convertible securities
Underlying stock:	Enphase Energy, Inc.
Amount:	$1 million
Maturity:	Oct. 22, 2021
Contingent coupon:	9%, payable monthly
Price:	Par
Payout at maturity:	Par unless stock falls below 62.114% knock-in level, in which case a number of shares equal to $1,000 divided by the initial share price or, at the issuer’s option, the cash equivalent
Initial level:	$164.23
Knock-in:	$102.01, 62.114% of initial level
Pricing date:	July 20
Settlement date:	July 22
Agent:	Credit Suisse Securities (USA) LLC
Fees:	0.7%
Cusip:	22550MVE6

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