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

By Kiku Steinfeld

Chicago, Nov. 23 – Credit Suisse AG, London Branch priced $1 million of 9% reverse convertible securities due June 27, 2022 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 58.135% 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:	June 27, 2022
Contingent coupon:	9%, payable monthly
Price:	Par
Payout at maturity:	Par unless stock falls below 58.135% 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:	$184.52
Knock-in:	$107.27, 58.135% of initial level
Pricing date:	March 22
Settlement date:	March 25
Agent:	Credit Suisse Securities (USA) LLC
Fees:	1%
Cusip:	22550MZT9

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