Credit Suisse plans 10%-12% reverse convertible securities on Expedia

By Marisa Wong

Madison, Wis., April 10 - Credit Suisse AG, Nassau Branch plans to price 10% to 12% annualized reverse convertible securities due Oct. 22, 2013 linked to the common stock of Expedia, Inc., according to a 424B2 filing with the Securities and Exchange Commission.

Interest is payable monthly. The exact coupon will be set at pricing.

A knock-in event occurs if Expedia stock closes at or below the knock-in price on any day during the life of the notes. The knock-in price will be about 75% of the initial price and will be set at pricing.

The payout at maturity will be par unless a knock-in event occurs and the final share price is less than the initial share price, in which case the payout will be a number of Expedia shares equal to $1,000 divided by the initial share price.

Credit Suisse Securities (USA) LLC is the agent.

The notes are expected to price on April 17 and settle on April 22.

The Cusip number is 22546T5H0.

© 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.