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Credit Suisse plans 7.75% autocall reverse converts on Royal Caribbean
By Susanna Moon
Chicago, April 13 – Credit Suisse AG, London Branch plans to price 7.75% autocallable reverse convertible securities due Aug. 1, 2019 linked to Royal Caribbean Cruises Ltd. stock, according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable monthly.
The notes will be called at par if the stock closes at or above its initial level on any quarterly trigger observation date.
The payout at maturity will be par unless the stock finishes below its 65% knock-in level, in which case investors will receive a number of shares equal to $1,000 divided by the initial price or, at the issuer’s option, the cash equivalent.
Credit Suisse Securities (USA) LLC is the agent.
The notes will price on April 26.
The Cusip number is 22549JB58.
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