Credit Suisse plans 16.5%-17.5% autocall reverse converts on stocks

By Susanna Moon

Chicago, Aug. 17 – Credit Suisse AG, London Branch plans to price 16.5% to 17.5% autocallable reverse convertible securities due Aug. 30, 2019 linked to the lowest performing of the American Depositary Shares of iQIYI, Inc. and the common stocks of First Solar, Inc., Netflix, Inc. and Tesla, Inc., according to a 424B2 filing with the Securities and Exchange Commission.

Interest is payable quarterly, with the exact coupon to be set at pricing.

The notes will be called at par if each stock closes at or above its initial level on any review date.

The payout at maturity will be par unless any underlying stock closes below its 50% knock-in level, in which case investors will receive a number of shares of the worst performing stock 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 underwriter.

The notes will price on Aug. 28.

The Cusip number is 22549JWG1.

© 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.