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Credit Suisse plans 7% autocallable reverse convertibles on Intel
New York, June 18 – Credit Suisse AG, London Branch plans to price 7% autocallable reverse convertible securities due Oct. 7, 2019 linked to common stock of Intel Corp., according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable monthly.
The notes will be called at par if Intel shares close at or above their initial price on Jan. 2, 2019, April 2, 2019 or July 1, 2019.
The payout at maturity will be par unless the shares close below the knock-in price, 75% of the initial share price, on any day during the life of the notes and finish below their initial price, in which case investors will receive a number of Intel 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 agent.
The notes will price on June 29 and settle on July 5.
The Cusip number is 22549JUH1.
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