By Wendy Van Sickle
Columbus, Ohio, March 8 – Credit Suisse AG, London Branch priced $1.39 million of 15% autocallable reverse convertible securities due March 6, 2019 linked to the common stock of Overstock.com, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable monthly.
The notes will be called at par if the shares close at or above the initial share price on any monthly observation date beginning June 4, 2018.
The payout at maturity will be par unless the shares finish below 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, an amount in cash equal to the value of those shares.
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.
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| Amount: | $1.39 million
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| Maturity: | March 6, 2019
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| Coupon: | 15%, payable monthly
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| Price: | Par
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| Payout at maturity: | Par unless stock finishes below knock-in price, in which case a number of shares equal to $1,000 divided by the initial share price
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| Call: | At par if Overstock.com shares close at or above initial share price on any monthly observation date beginning June 4, 2018
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| Initial level: | $60.55
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| Knock-in price: | $30.275, 50% of initial share price
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| Pricing date: | March 5
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| Settlement date: | March 8
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| Agent: | Credit Suisse Securities (USA) LLC
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| Fees: | 2.875%
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| Cusip: | 22549JRF9
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