Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers C > Headlines for Credit Suisse AG, London Branch > News item |
Credit Suisse plans contingent 7.25% autocall reverse converts on BofA
By Sarah Lizee
Olympia, Wash., April 4 – Credit Suisse AG, London Branch plans to price contingent coupon autocallable reverse convertible securities due July 20, 2020 linked to Bank of America Corp. stock, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent monthly coupon at an annual rate of 7.25% if the underlying stock closes at or above its 70% coupon barrier on the observation date for that month.
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 April 16.
The Cusip number is 22549JJ92.
© 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.