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Credit Suisse plans autocallable reverse convertibles tied to Amazon
By Tali Rackner
Norfolk, Va., Dec. 16 – Credit Suisse AG, London branch, plans to price 7.25% to 9.25% autocallable reverse convertible securities due Jan. 3, 2018 linked to the common stock of Amazon.com, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Interest is 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 the initial price on June 28, 2017 or Sept. 28, 2017.
The payout at maturity will be par unless the stock ever closes at or below the 70% knock-in level during the life of the notes and the final level is less than the initial level, in which case investors will receive a number of Amazon shares equal to $1,000 divided by the initial level or, at the issuer’s option, the cash equivalent.
Credit Suisse Securities (USA) LLC is the agent.
The notes will price on Dec. 28 and settle on Jan. 3.
The Cusip number is 22549JDM9.
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