Credit Suisse plans 7%-9% autocallable reverse convertibles on Facebook

By Susanna Moon

Chicago, Dec. 6 – Credit Suisse AG, London Branch plans to price 7% to 9% autocallable reverse convertible securities due Dec. 18, 2017 linked to the class A common stock of Facebook, Inc., according to a 424B2 filing with the Securities and Exchange Commission. The coupon will be set at pricing.

Interest is payable monthly.

The notes will be called at par if Facebook shares close at or above the initial share price on June 13, 2017 or Sept. 13, 2017.

The payout at maturity will be par unless Facebook shares close at or below the 75% knock-in level on any day during the life of the notes and finish below its initial level, in which case investors will receive a number of Facebook 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 agent.

The notes will price on Dec. 13 and settle on Dec. 16.

The Cusip number is 22549JDE7.

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