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Credit Suisse delays autocallable reverse convertibles tied to Amazon
By Angela McDaniels
Tacoma, Wash., Jan. 11 – Credit Suisse AG, London Branch pushed back the pricing of its autocallable reverse convertible securities linked to the common stock of Amazon.com, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes are now expected to price Jan. 20 and mature Jan. 25, 2018. They were previously expected to price Jan. 17 and mature Jan. 22, 2018.
The interest rate is still expected to be 9.5% to 11.5% and will be set at pricing. 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 July 20, 2017 or Oct. 20, 2017
The payout at maturity will be par unless Amazon shares close at or below the knock-in price, 70% 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 Cusip number is 22549JDT4.
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