Credit Suisse plans 8%-10% autocallable reverse convertibles linked to Restoration Hardware

By Angela McDaniels

Tacoma, Wash., Sept. 9 – Credit Suisse AG, London Branch plans to price autocallable reverse convertible securities due Sept. 26, 2016 linked to the common stock of Restoration Hardware Holdings, Inc., according to a 424B2 filing with the Securities and Exchange Commission.

The interest rate is expected to be 8% to 10% and will be set at pricing. Interest will be payable monthly.

The notes will be automatically called at par if Restoration Hardware shares close at or above the initial share price on March 22, 2016 or June 22, 2016.

The payout at maturity will be par unless Restoration Hardware shares close at or below the knock-in price, 70% of the initial share price, during the life of the notes and finish below the initial share price, in which case investors will receive a number of Restoration Hardware shares equal to $1,000 divided by the initial share price.

Credit Suisse Securities (USA) LLC is the agent.

The notes will price Sept. 22 and settle Sept. 25.

The Cusip number is 22546VM86.

© 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.