Credit Suisse plans 10%-12% autocallable reverse convertibles on GoPro

By Susanna Moon

Chicago, July 9 – Credit Suisse AG plans to price 10% to 12% autocallable reverse convertible securities due July 25, 2016 linked to the class A common stock of GoPro, Inc., according to a 424B2 filing with the Securities and Exchange Commission.

Interest will be payable monthly. The exact rate will be set at pricing.

The notes will be called at par if the stock closes at or above the initial level on Jan. 19, 2016 or April 19, 2016.

The payout at maturity will be par unless Ford stock ever closes at or below the 60% knock-in level during the life of the notes and finishes below the initial level, in which case the payout will be a number of Ford shares equal to $1,000 divided by the initial share price or, at the issuer’s option, the cash equivalent.

The notes will price on July 21 and settle on July 24.

Credit Suisse Securities (USA) LLC is the agent.

The Cusip number is 22546VHB5.

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