Credit Suisse eyes contingent coupon autocallable reverse convertibles on Amazon

By Wendy Van Sickle

Columbus, Ohio, Dec. 8 – Credit Suisse AG, London Branch plans to price contingent coupon autocallable reverse convertible securities due March 20, 2019 linked to the common stock of Amazon.com, Inc., according to a 424B2 filing with the Securities and Exchange Commission.

Interest is payable monthly at an annual rate of 10.5% if the stock closes at or above its 75% coupon barrier level on a monthly observation date.

The notes will be called at par if Amazon shares close at or above their initial share price on June 15, 2018, Sept. 17, 2018 or Dec. 17, 2018.

The payout at maturity will be par unless the shares finish below the initial level and close below the 75% knock-in level any day 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, an amount in cash equal to the value of those shares.

Credit Suisse Securities (USA) LLC is the agent.

The notes will price on Dec. 15 and settle on Dec. 20

The Cusip number is 22549JMY3.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.