Credit Suisse plans autocallable reverse convertibles tied to Facebook

By Devika Patel

Knoxville, Tenn., June 30 – Credit Suisse AG, London Branch plans to price 6.15% autocallable reverse convertible securities due Oct. 12, 2018 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.

The notes will be called at par if Facebook shares close at or above the initial share price on Jan. 9, 2018, April 9, 2018 or July 9, 2018.

The payout at maturity will be par unless Facebook shares close at or below the knock-in price, 75% of the initial share price, on any day during the life of the notes and finish below the initial share price, in which case investors will receive a number of Facebook shares equal to $1,000 divided by the initial share price or, at the issuer’s option, an amount in cash equal to the value of those shares.

Credit Suisse Securities (USA) LLC is the agent.

The notes (Cusip: 22549JHT0) will price on July 7 and settle on July 12.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.