Credit Suisse eyes contingent coupon autocallable reverse convertibles on Cisco

By Sarah Lizee

Olympia, Wash., Nov. 18 – Credit Suisse AG, London Branch plans to price contingent coupon autocallable reverse convertible securities due Feb. 22, 2021 linked to the common stock of Cisco Systems, Inc., according to a 424B2 filing with the Securities and Exchange Commission.

Interest is payable monthly at an annual rate of 8.25% if the stock closes at or above its 75% knock-in level on a monthly observation date.

After six months, the notes will be called at par plus the coupon if the shares close at or above the initial share price on any quarterly trigger observation date.

The payout at maturity will be par unless the shares finish below the initial price and have ever closed below the knock-in level on any day 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, an amount in cash equal to the value of those shares.

Credit Suisse Securities (USA) LLC is the agent.

The notes will price on Nov. 19.

The Cusip number is 22549J3J7.

© 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.