Credit Suisse plans autocallable reverse convertibles on Amgen stock

By Devika Patel

Knoxville, Tenn., April 13 – Credit Suisse AG, London Branch plans to price 7% to 9% autocallable reverse convertible securities due May 2, 2017 linked to Amgen Inc. 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 Amgen shares close at or above the initial share price on Oct. 28, 2016 or Jan. 30, 2017.

The payout at maturity will be par unless Amgen shares close at or below the knock-in price, which is expected to be about 75% 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 Amgen 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: 22548Q3Q6) will price on April 27 and settle on May 2.

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