By Susanna Moon
Chicago, Dec. 8 – Credit Suisse AG, London Branch priced $1.07 million of 14.3% autocallable reverse convertible securities due Nov. 30, 2018 linked to Overstock.com, Inc. common shares, according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable monthly.
The notes will be called at par plus the coupon if the stock closes at or above its initial level on any review date.
The payout at maturity will be par unless the shares finish below the 50% knock-in level, in which case investors will receive a number of Overstock.com 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
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| Issue: | Autocallable reverse convertible securities
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| Underlying stock: | Overstock.com, Inc. (Symbol: OSTK)
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| Amount: | $1.07 million
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| Maturity: | Nov. 30, 2018
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| Contingent coupon: | 14.3%, payable monthly
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| Price: | Par
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| Payout at maturity: | Par unless stock falls below 50% knock-in level, in which case 17.3611 Overstock.com shares
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| Call: | At par plus the coupon if shares close at or above initial level on any review date beginning Feb. 26, 2018
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| Initial level: | $57.60
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| Knock-in price: | $28.80, 50% of initial level
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| Pricing date: | Nov. 28
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| Settlement date: | Nov. 30
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| Agent: | Credit Suisse Securities (USA) LLC
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| Fees: | 2.875%
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| Cusip: | 22549JMQ0
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