Credit Suisse amends dates for 9%-11% autocallable reverse convertibles linked to GameStop

By Toni Weeks

San Luis Obispo, Calif., July 15 – Credit Suisse AG amended the dates for its upcoming issue of 9% to 11% autocallable reverse convertible securities linked to GameStop Corp. class A common stock, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will now mature July 28, 2016 instead of July 27, 2016.

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

The notes will be called at par if the stock closes at or above the initial share price on Jan. 25, 2016 or April 25, 2016, previously Jan. 22, 2016 or April 22, 2016, respectively.

If the notes are not called, the payout at maturity will be par unless GameStop stock closes at or below the knock-in price, 70% of the initial share price, during the life of the notes and finishes below the initial share price, in which case the payout will be a number of GameStop shares equal to $1,000 divided by the initial share price or, at the issuer’s option, the cash value of those shares.

The securities (Cusip: 22546VH41) are expected to price July 23 and settle July 28; previously they were to price July 22 and settle July 27.

The estimated initial value is between $950 and $980 per $1,000 principal amount.

Credit Suisse Securities (USA) LLC is the agent.

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