Credit Suisse plans 11.5% contingent coupon callable reverse converts tied to Amazon

By Susanna Moon

Chicago, Feb. 13 – Credit Suisse AG, London Branch plans to price contingent coupon callable reverse convertible securities due Feb. 20, 2020 linked to Amazon.com, Inc. stock, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will pay a contingent monthly coupon at an annualized rate of 11.5% if the stock closes at or above its 75% coupon barrier on an observation date for that month.

The notes are callable at par on any quarterly observation date.

The payout at maturity will be par unless the stock finishes below its 75% knock-in level, in which case investors will receive a number of Amazon shares equal to $1,000 divided by the initial share price or, at the issuer’s option, the cash equivalent.

Credit Suisse Securities (USA) LLC is the agent.

The notes will price on Feb. 14.

The Cusip number is 22549JST8.

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