Credit Suisse plans autocallable reverse convertibles on First Solar

By Jennifer Chiou

New York, Sept. 12 – Credit Suisse AG plans to price 10% to 12% autocallable reverse convertible securities due Sept. 21, 2015 linked to the common stock of First Solar, Inc., according to a 424B2 filing with the Securities and Exchange Commission.

Interest will be payable monthly.

The notes will be automatically called at par if First Solar shares close at or above the initial share price on March 16, 2015 or June 16, 2015.

If the notes are not called, the payout at maturity will be par unless First Solar shares close at or below the knock-in price, 65% of the initial share price, during the life of the notes and finish below the initial share price, in which case the payout will be a number of First Solar shares equal to $1,000 divided by the initial share price.

The notes (Cusip: 22547QTJ5) will price on Sept. 16 and settle on Sept. 19.

Credit Suisse Securities (USA) LLC is the agent.

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