Credit Suisse eyes contingent coupon autocall reverse converts on Intel

By Sarah Lizee

Olympia, Wash., May 28 – Credit Suisse AG, London Branch plan to price contingent coupon autocallable reverse convertible notes due Sept. 8, 2020 linked to Intel Corp. stock, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will pay a contingent monthly coupon at an annual rate of 9% if the underlying stock closes at or above its 75% coupon barrier on the observation date for that month.

The notes will be called at par if the stock closes at or above its initial level on any quarterly observation date starting Dec. 2.

The payout at maturity will be par unless the underlying stock finishes below its initial level and ever closes below its 75% knock-in level during the life of the notes, in which case investors will receive a number of 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 May 31.

The Cusip number is 22549JM56.

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