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Prospect News home > News index > List of issuers C > Headlines for Credit Suisse AG, London Branch > News item |
Credit Suisse plans 10% autocall reverse convertibles tied to Apple
By Susanna Moon
Chicago, April 4 – Credit Suisse AG, London Branch plans to price 10% autocallable reverse convertible securities due July 10, 2019 linked to Apple Inc. stock, according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable monthly.
The notes will be called at par if the stock closes at or above its initial level on any observation date.
The payout at maturity will be par unless the stock finishes below its initial level and ever closes below its 75% knock-in level during the life of the notes, in which case investors will receive a number of 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 April 5 and settle on April 10.
The Cusip number is 22549JSR2.
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