Credit Suisse plans 7.5% autocallable reverse convertibles on Trinity

By Jennifer Chiou

New York, Oct. 24 – Credit Suisse AG plans to price 7.5% autocallable reverse convertible securities due Nov. 5, 2015 linked to the common stock of Trinity Industries, Inc., according to a 424B2 filing with the Securities and Exchange Commission.

Interest is payable monthly.

The notes will be called at par if Trinity shares close at or above the initial share price on April 30, 2015 or July 31, 2015.

The payout at maturity will be par unless Trinity shares close at or below the knock-in price, 50% 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 Trinity shares equal to $1,000 divided by the initial share price or, at the issuer’s option, an amount in cash equal to the value of those shares.

The notes (Cusip: 22547QVZ6) will price on Oct. 31 and settle on Nov. 5.

Credit Suisse Securities (USA) LLC is the agent.

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