Credit Suisse plans 8.5% autocall reverse convertibles tied to Amazon

By Susanna Moon

Chicago, May 24 – Credit Suisse AG, London Branch plans to price 8.5% autocallable reverse convertible securities due Sept. 5, 2019 linked to Amazon.com, Inc. stock, according to a 424B2 filing with the Securities and Exchange Commission.

Interest is payable monthly.

The notes will be called at par if the stock closes at or above its initial level on any quarterly review date after six months.

The payout at maturity will be par unless the stock finishes below its initial level and ever closes below its 70% knock-in level during the life of the notes, in which case investors will receive a number of 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 underwriter.

The notes will price on May 31.

The Cusip number is 22549JTK6.

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