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Credit Suisse plans 13% autocallable reverse convertibles on Wynn
By Sarah Lizee
Olympia, Wash., Feb. 27 – Credit Suisse AG, London Branch plans to price 13% autocallable reverse convertible securities due March 11, 2020 linked to common stock of Wynn Resorts, Ltd., according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable quarterly.
The notes will be called at par if Wynn shares close at or above their initial price on June 6, 2019, Sept. 6, 2019 or Dec. 6, 2019.
The payout at maturity will be par unless the shares close below the knock-in price, 70% of the initial share price, on any day during the life of the notes and finish below their initial price, in which case investors will receive a number of 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 will price on March 6.
The Cusip number is 22549JF39.
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