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Credit Suisse plans 7.25%-9.25% autocallable reverse convertibles linked to Morgan Stanley
By Susanna Moon
Chicago, Sept. 9 – Credit Suisse AG, London Branch plans to price 7.25% to 9.25% autocallable reverse convertible securities due Sept. 27, 2017 linked to Morgan Stanley shares, according to a 424B2 filing with the Securities and Exchange Commission.
Interest will be payable monthly, with the exact rate to be set at pricing.
The notes will be called at par if Morgan Stanley shares close at or above the initial share price on March 22, 2017 or June 22, 2017.
The payout at maturity will be par unless the stock falls and ever closes at or below its 75% knock-in level during the life of the notes, in which case investors will receive a number of Morgan Stanley 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.
The notes will price on Sept. 22 and settle on Sept. 27.
The Cusip number is 22549JBR0.
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