Credit Suisse plans contingent 8% autocall reverse converts on Goldman

By Susanna Moon

Chicago, July 18 – Credit Suisse AG, London Branch plans to price contingent coupon autocallable reverse convertible securities due Oct. 26, 2018 linked to Goldman Sachs Group, Inc. stock, according to a 424B2 filing with the Securities and Exchange Commission.

Interest is payable monthly at an annual rate of 8% if the stock closes at or above its 75% coupon barrier on an observation date for that month.

The notes will be called at par if Chevron shares close at or above its initial level on Jan. 23, 2018, April 23, 2018 and July 23, 2018.

The payout at maturity will be par unless the shares finish below the initial level and close below its 75% knock-in level any day during the life of the notes, in which case investors will receive a number of Chevron 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.

The notes will price on July 21 and settle on July 26.

The Cusip number is 22549JJD3.

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