Credit Suisse to price 7.5% autocallable reverse convertibles linked to Restoration Hardware

By Toni Weeks

San Luis Obispo, Calif., June 18 – Credit Suisse AG plans to price 7.5% autocallable reverse convertible securities due June 29, 2015 linked to Restoration Hardware Holdings, Inc. shares, according to a 424B2 filing with the Securities and Exchange Commission.

Interest will be payable monthly.

The notes will be called at par plus accrued interest and a 2% automatic redemption premium if the stock closes at or above the initial share price on any of three trigger observation dates, which are Dec. 23, 2014, March 24, 2015 and June 24, 2015.

The payout at maturity will be par unless Restoration Hardware stock closes at or below the knock-in price, about 65% of the initial share price, during the life of the notes and finishes below the initial share price, in which case the payout will be a number of Restoration Hardware shares equal to $1,000 divided by the initial share price.

The exact terms will be set at pricing.

Credit Suisse Securities (USA) LLC is the agent.

The notes will price June 24 and settle June 27.

The Cusip number is 22547QPE0.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.