Credit Suisse plans 15% autocallable reverse convertibles on 3D

By Toni Weeks

San Luis Obispo, Calif., Sept. 8 – Credit Suisse AG plans to price 15% autocallable reverse convertible securities due Sept. 18, 2015 linked to 3D Systems Corp. shares, according to a 424B2 filing with the Securities and Exchange Commission.

Interest will be payable monthly.

A knock-in event will occur if the stock price closes at or below the knock-in level, 65% of the initial share price, on any trading day during the life of the notes.

The notes will be called at par plus accrued interest if the stock closes at or above the initial level on either trigger observation dates of March 13, 2015 or June 15, 2015.

If the notes are not called and a knock-in event does not occur, or if it does but the final share price is greater than or equal to the initial price, the payout at maturity will be par.

If a knock-in event occurs and the final share price is less than the initial price, investors will receive a number of shares of 3D Systems stock equal to $1,000 divided by the initial price or, at the issuer’s option, the cash value of those shares.

The exact terms will be set at pricing.

Credit Suisse Securities (USA) LLC is the agent.

The notes will price Sept. 15 and settle Sept. 18.

The Cusip number is 22547QTC0.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.