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Credit Suisse to price autocallable reverse convertibles on Tenet
By Marisa Wong
Madison, Wis., Dec. 8 – Credit Suisse AG, London Branch plans to price 9% to 11% autocallable reverse convertible securities due Dec. 29, 2015 linked to the common stock of Tenet Healthcare Corp., according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable monthly.
The notes will be called at par if Tenet Healthcare shares close at or above the initial share price on June 24, 2015 or Sept. 24, 2015.
The payout at maturity will be par unless Tenet Healthcare shares close at or below the knock-in price, 65% of the initial share price, during the life of the notes and finish below the initial share price, in which case the payout will be a number of Tenet Healthcare shares equal to $1,000 divided by the initial share price.
Credit Suisse Securities (USA) LLC is the agent.
The notes will price on Dec. 23 and settle on Dec. 29.
The Cusip number is 22547QYV2.
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