Credit Suisse plans 6.35% autocall reverse converts tied to Amazon

By Susanna Moon

Chicago, Jan. 30 – Credit Suisse AG, London Branch plans to price 6.35% autocallable reverse convertible securities due May 6, 2019 linked to Amazon.com, Inc. shares, according to a 424B2 filing with the Securities and Exchange Commission.

Interest is payable monthly.

The notes will be automatically called at par plus the coupon if the shares close at or above the initial share price on any monthly observation date after three months.

The payout at maturity will be par unless the shares finish below the initial level and ever close below its 70% knock-in level, 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 Jan. 31 and settle on Feb. 5.

The Cusip number is 22549JPJ3.

© 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.