Credit Suisse plans autocallable reverse convertibles on four stocks

By Devika Patel

Knoxville, Tenn., Jan. 9 – Credit Suisse AG, London Branch plans to price 9% autocallable reverse convertible securities due Jan. 22, 2020 linked to the lowest performing of the common stocks of Walt Disney Co., CBS Corp., Twenty-First Century Fox, Inc. and Viacom Inc., according to a 424B2 filing with the Securities and Exchange Commission.

Interest is payable monthly.

Beginning April 18, 2018 and ending on Dec. 18, 2019, 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.

The payout at maturity will be par unless any stock finishes below its knock-in price, 55% of its initial share price, in which case investors will receive a number of shares of the worst-performing stock equal to the principal 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 (Cusip: 22549JNU0) will price on Jan. 17 and settle on Jan. 22.

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