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Credit Suisse plans 10%-12% autocallable reverse convertibles on Amazon
By Wendy Van Sickle
Columbus, Ohio, June 28 – Credit Suisse AG, London Branch plans to price 10% to 12% autocallable reverse convertible securities due July 13, 2017 linked to Amazon.com, Inc. shares, according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable monthly, with the exact rate to be set at pricing.
The notes will be called at par if the stock closes at or above the initial level on Jan. 10, 2017 or April 10, 2017.
The payout at maturity will be par unless the stock finishes below its initial level and ever closes below the 70% knock-in level during the life of the notes, in which case investors will receive a number of Amazon shares equal to $1,000 divided by the initial level or, at the issuer’s option, the cash equivalent.
Credit Suisse Securities (USA) LLC is the agent.
The notes will price on July 8 and settle on July 13.
The Cusip number is 22549JAR1.
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