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Credit Suisse plans 7% autocallable reverse convertibles tied to CSX
By Wendy Van Sickle
Columbus, Ohio, June 29 – Credit Suisse AG, London Branch plans to price 7% autocallable reverse convertible securities due July 17, 2017 linked to CSX Corp. shares, 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 the initial level on Jan. 11, 2017 or April 11, 2017.
The payout at maturity will be par unless the stock finishes below its initial level and ever closes below the 70% knock-in level during the life of the notes, in which case investors will receive a number of CSX shares equal to $1,000 divided by the initial level or, at the issuer’s option, the cash equivalent.
Credit Suisse Securities (USA) LLC is the agent.
The notes will price on July 12 and settle on July 15.
The Cusip number is 22549JAS9.
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