Credit Suisse plans 7%-9% autocall reverse convertibles on Facebook

By Susanna Moon

Chicago, Nov. 14 – Credit Suisse AG, London Branch plans to price 7% to 9% autocallable reverse convertible securities due Nov. 27, 2017 linked to the class A common stock of Facebook, 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 its initial level on May 22, 2017 or Aug. 22, 2017.

The payout at maturity will be par unless the stock ever closes at or below the 75% knock-in level during the life of the notes and finishes below its initial level, in which case investors will receive a number of Facebook 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 Nov. 21 and settle on Nov. 25.

The Cusip number is 22549JCZ1.

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