Credit Suisse plans 19%-21% autocall reverse convertibles on stocks

By Susanna Moon

Chicago, March 21 – Credit Suisse AG, London Branch plans to price 19% to 21% autocallable reverse convertible securities due March 29, 2019 linked to the lowest performing of the common shares of Cleveland-Cliffs Inc., the class A ordinary shares of Ensco plc and the shares of Transocean Ltd., according to a 424B2 filing with the Securities and Exchange Commission.

Interest is payable monthly, with the exact coupon to be set at pricing.

The notes will be called at par if each stock closes at or above its initial level on any quarterly trigger observation date.

The payout at maturity will be par unless any stock finishes below its 65% knock-in level, in which case investors will receive a number of shares of the worst performing stock 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.

The notes will price on March 27 and settle on March 29.

The Cusip number is 22549JRU6.

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