Credit Suisse plans autocallable reverse convertibles tied to Expedia

By Angela McDaniels

Tacoma, Wash., March 5 – Credit Suisse AG plans to price autocallable reverse convertible securities due March 21, 2016 linked to the common stock of Expedia, Inc., according to a 424B2 filing with the Securities and Exchange Commission.

The interest rate is expected to be 8% to 10% and will be set at pricing. Interest will be payable monthly.

The notes will be called at par if Expedia shares close at or above the initial share price on Sept. 16, 2015 or Dec. 16, 2015.

The payout at maturity will be par unless Expedia shares close at or below the knock-in price, 75% of the initial share price, during the life of the notes and finish below the initial share price, in which case investors will receive 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 will price March 17 and settle March 20.

The Cusip number is 22546V6T8.

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