Credit Suisse plans contingent coupon autocallable reverse convertibles on Nvidia

By Devika Patel

Knoxville, Tenn., Sept. 15 – Credit Suisse AG, London Branch plans to price contingent coupon autocallable reverse convertible securities due Dec. 26, 2018 linked to the common stock of Nvidia Corp., according to a 424B2 filing with the Securities and Exchange Commission.

Interest is payable monthly at an annual rate of 9.25% if the stock closes at or above its 55% coupon barrier level on a monthly observation date.

The notes will be called at par plus the coupon if Nvidia shares close at or above their initial share price on March 21, 2018, June 20, 2018 or Sept. 20, 2018.

The payout at maturity will be par unless the shares finish below the initial level and close below the 55% knock-in level on any day during the life of the notes, in which case investors will receive a number of Nvidia 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 underwriter.

The notes (Cusip: 22549JKG4) will price Sept. 20 and settle Sept. 25.

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