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Credit Suisse plans 9% autocallable reverse convertibles on Nvidia
By Sarah Lizee
Olympia, Wash., Oct. 2 – Credit Suisse AG, London Branch plans to price 9% autocallable reverse convertible securities due Jan. 13, 2020 linked to common stock of Nvidia Corp., according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable monthly.
The notes will be called at par if Nvidia shares close at or above their initial price on April 9, 2019, July 9, 2019 or Oct. 10, 2019.
The payout at maturity will be par unless the shares close below the knock-in price, 67% 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 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 agent.
The notes will price on Oct. 9 and settle on Oct. 12.
The Cusip number is 22549JXX3.
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