Credit Suisse plans autocallable reverse convertibles linked to Tenet

New York, June 10 – Credit Suisse AG, London Branch plans to price autocallable reverse convertible securities due June 28, 2017 linked to the common stock of Tenet Healthcare Corp., according to a 424B2 filing with the Securities and Exchange Commission.

The interest rate is expected to be 10% to 12% and will be set at pricing. Interest will be payable monthly.

The notes will be automatically called at par if Tenet shares close at or above the initial share price on Dec. 22, 2016 or March 23, 2017.

The payout at maturity will be par unless Tenet shares close at or below the knock-in price, 60% of the initial share price, during the life of the notes and finish below the initial share price, in which case investors will receive a number of Tenet 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.

The notes will price on June 23 and settle on June 28.

The Cusip number is 22549JAC4.

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