Credit Suisse plans 10.5% contingent coupon autocall reverse convertibles on American Air

By Susanna Moon

Chicago, June 13 – Credit Suisse AG, London Branch plans to price contingent coupon autocallable reverse convertible securities due Sept. 30, 2019 linked to American Airlines Group Inc. stock, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will pay a contingent quarterly coupon at an annual rate of 10.5% if each underlying index closes at or above its 70% coupon barrier on the observation date for that quarter.

The notes will be called at par if the stock closes at or above its initial level on any quarterly review date beginning Dec. 26, 2018.

The payout at maturity will be par unless the stock ever closes below its 70% knock-in level during the life of the notes, 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 underwriter.

The notes will price on June 26.

The Cusip number is 22549JUG3.

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