Credit Suisse to price autocallable reverse convertibles on four stocks

By Sarah Lizee

Olympia, Wash., June 23 – Credit Suisse AG, London Branch plans to price 9% autocallable reverse convertible securities due June 29, 2022 linked to the lowest performing of the common stocks of Canadian Pacific Railway Ltd., CSX Corp., Kansas City Southern and Norfolk Southern Corp., according to a 424B2 filing with the Securities and Exchange Commission.

Interest is payable monthly.

The notes will be automatically called at par if each stock closes at or above its initial share price on any monthly trigger observation date beginning Dec. 23.

The payout at maturity will be par unless any stock finishes below its knock-in price, 50% of its initial share price, in which case investors will receive a number of shares of the worst-performing stock equal to $1,000 divided by that stock’s 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.

The notes will price on June 24.

The Cusip number is 22550MGB9.

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