Credit Suisse plans autocallable reverse convertibles linked to Ford

By Devika Patel

Knoxville, Tenn., Nov. 9 – Credit Suisse AG, London Branch plans to price 8% to 10% autocallable reverse convertible securities due Nov. 28, 2017 linked to Ford Motor Co. common shares, according to a 424B2 filing with the Securities and Exchange Commission. The coupon will be set at pricing.

Interest is payable monthly.

The notes will be called at par if Ford shares close at or above the initial share price on May 24, 2017 or Aug. 23, 2017.

The payout at maturity will be par unless Ford shares close at or below the knock-in price, which is expected to be about 70% of the initial share price and will be set at pricing, 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 Ford 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: 22549JCY4) will price on Nov. 22 and settle on Nov. 28.

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