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Credit Suisse plans 7% autocallable reverse convertibles on SanDisk
By Susanna Moon
Chicago, Jan. 9 - Credit Suisse AG plans to price 9% autocallable reverse convertible securities due Jan. 23, 2015 linked to SanDisk Corp. shares, according to a 424B2 filing with the Securities and Exchange Commission.
Interest will be payable monthly.
The notes will be called at par if the stock closes at or above the initial share price on any quarterly call date.
The payout at maturity will be par unless SanDisk Sciences stock closes at or below the knock-in price, 70% of the initial share price, during the life of the notes and finishes below the initial share price, in which case the payout will be a number of SanDisk shares equal to $1,000 divided by the initial share price.
Credit Suisse Securities (USA) LLC is the agent.
The notes will price on Jan. 17 and settle on Jan. 23.
The Cusip number is 22547QFU5.
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