Credit Suisse plans 8%-10% autocallable reverse convertibles on Amazon

By Susanna Moon

Chicago, Oct. 7 – Credit Suisse AG, London Branch plans to price 8% to 10% autocallable reverse convertible securities due Oct. 20, 2017 linked to Amazon.com, Inc. 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 the stock closes at or above its initial level on April 17, 2017 or July 17, 2017.

The payout at maturity will be par unless the stock finishes below its initial level 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 Amazon 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 Oct. 17 and settle on Oct. 20.

The Cusip number is 22549JCL2.

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