Credit Suisse plans autocallable reverse convertibles linked to Amazon

By Tali Rackner

Norfolk, Va., Aug. 22 – Credit Suisse AG, London Branch plans to price 7.5% to 9.5% autocallable reverse convertible securities due Sept. 5, 2017, linked to the common stock of Amazon.com, Inc., according to a 424B2 filing with the Securities and Exchange Commission.

Interest will be payable monthly.

The notes will be automatically called at par if Amazon shares close at or above the initial share price on Feb. 27, 2017 or May 30, 2017.

The payout at maturity will be par unless Amazon shares close at or below the knock-in price, 75% of the initial share price, during the life of the notes and finish below the initial share price, 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, an amount in cash equal to the value of those shares.

Credit Suisse Securities (USA) LLC is the agent.

The notes will price Aug. 30 and settle on Sept. 2.

The Cusip number is 22549JBK5.

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