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Credit Suisse to price autocallable reverse convertibles tied to Apple
By Jennifer Chiou
New York, Dec. 9 – Credit Suisse AG plans to price 7.5% to 9.5% autocallable reverse convertible securities due Dec. 17, 2015 linked to the common stock of Apple Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable monthly.
The notes will be called at par if Apple shares close at or above the initial share price on June 12, 2015 or Sept. 14, 2015.
The payout at maturity will be par unless Apple shares close at or below the knock-in price, 75% of the initial share price, during the life of the notes and finish below the initial share price, in which case the payout will be a number of Apple shares equal to $1,000 divided by the initial share price.
The notes (Cusip: 22547QZ74) will price on Dec. 23 and settle on Dec. 29.
Credit Suisse Securities (USA) LLC is the agent.
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