Credit Suisse plans autocallable reverse convertibles on Marathon Oil

By Devika Patel

Knoxville, Tenn., Jan. 18 – Credit Suisse AG, London Branch plans to price contingent coupon autocallable reverse convertible securities due April 26, 2019 linked to the common stock of Marathon Oil Corp., according to a 424B2 filing with the Securities and Exchange Commission.

The notes will pay a contingent monthly coupon at an annual rate of 11% if the stock closes at or above its expected 67.5% coupon barrier level on an observation date for that month. The exact coupon barrier level will be set at pricing.

The notes will be called at par if the shares close at or above the initial level on July 23, 2018, Oct. 23, 2018 or Jan. 23, 2019.

The payout at maturity will be par unless the shares finish below the initial level and close below the expected 67.5% knock-in level any day during the life of the notes, in which case investors will receive a number of Marathon Oil 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. The exact knock-in level will be set at pricing.

Credit Suisse Securities (USA) LLC is the agent.

The notes (Cusip: 22549JNV8) will price on Jan. 23 and settle on Jan. 26.

© 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.