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Credit Suisse plans 7.15% one-year reverse convertibles on Facebook
By Susanna Moon
Chicago, Aug. 22 – Credit Suisse AG, London Branch plans to price 7.15% reverse convertible securities due Sept. 7, 2018 linked to class A common stock of Facebook, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable monthly.
The payout at maturity will be par unless the shares finish below the initial price and close at or below the 80% knock-in level on any day during the life of the notes, 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, the cash equivalent.
Credit Suisse Securities (USA) LLC is the agent.
The notes will price on Sept. 1.
The Cusip number is 22549JKA7.
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