New Issue: Credit Suisse sells $2.43 million reverse convertible autocalls on Walt Disney

By Taylor Fox

New York, Feb. 22 – Credit Suisse AG, London Branch priced $2.43 million of 7.5% autocallable reverse convertible securities due March 14, 2022 linked to the Walt Disney Co. 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 monthly review date after six months.

The payout at maturity will be par unless the shares finish below the 73% knock-in level, in which case investors will receive a number of 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
Issue:	Autocallable reverse convertible securities
Underlying stock:	Walt Disney Co.
Amount:	$2,432,000
Maturity:	March 14, 2022
Contingent coupon:	7.5%, payable monthly
Price:	Par
Payout at maturity:	Par unless stock falls below 73% knock-in level, in which case a number of shares equal to $1,000 divided by the initial share price or, at the issuer’s option, the cash equivalent
Call:	At par plus the coupon if shares close at or above initial level on any monthly review date after six months
Initial level:	$188.21
Knock-in:	$137.3933, 73% of initial level
Pricing date:	Feb. 9
Settlement date:	Feb. 12
Agent:	Credit Suisse Securities (USA) LLC
Fees:	2.15%
Cusip:	22550MQF9

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