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Credit Suisse plans 9% autocallable reverse convertibles tied to Amazon
By Susanna Moon
Chicago, Aug. 17 – Credit Suisse AG, London Branch plans to price 9% autocallable reverse convertible securities due Aug. 29, 2017 linked to Amazon.com, Inc. shares, according to a 424B2 filing with the Securities and Exchange Commission.
Interest will be payable monthly.
The notes will be called at par if Amazon shares close at or above the initial share price on Feb. 23, 2017 or May 24, 2017.
The payout at maturity will be par unless Amazon shares finish below its initial level and ever close at or below its 70% knock-in level during the life of the notes, in which case investors will receive a number of Amazon 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 Aug. 24 and settle on Aug. 29.
The Cusip number is 22549JBJ8.
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