Credit Suisse plans 5.5%-7.5% autocallable reverse convertibles on Ford

By Toni Weeks

San Luis Obispo, Calif., July 8 – Credit Suisse AG plans to price 5.5% to 7.5% autocallable reverse convertible securities due July 22, 2016 linked to Ford Motor Co. shares, 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 share price on Jan. 19, 2016 or April 19, 2016.

If the notes are not called, the payout at maturity will be par unless Ford stock closes at or below the knock-in price, 80% 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 Ford shares equal to $1,000 divided by the initial share price or, at the issuer’s option, the cash value of those shares.

The securities (Cusip: 22546VHA7) are expected to price July 17 and settle July 22.

Credit Suisse Securities (USA) LLC is the agent.

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