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Credit Suisse eyes 9.15% autocallable reverse convertible securities on stocks
By Sarah Lizee
Olympia, Wash., Nov. 4 – Credit Suisse AG, London Branch plans to price 9.15% autocallable reverse convertible securities due Nov. 15, 2021 linked to the lowest performing of the common stocks of Apple Inc., Alphabet, Inc., Intel Corp. and Oracle Corp., according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable monthly.
The notes will be automatically called at par if each stock closes at or above its initial share price on any monthly trigger observation date beginning May 11, 2020.
The payout at maturity will be par unless any stock finishes below its knock-in price, 60% of its initial share price, in which case investors will receive a number of shares of the worst-performing stock equal to $1,000 divided by that stock’s initial share price or, at the issuer’s option, an amount in cash equal to the value of those shares.
Credit Suisse Securities (USA) LLC is the agent.
The notes will price on Nov. 8.
The Cusip number is 22549J3E8.
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