Credit Suisse plans 7.5%-9.5% reverse convertible autocallables on Marathon Oil

By Toni Weeks

San Luis Obispo, Calif., June 22 – Credit Suisse AG plans to price 7.5% to 9.5% autocallable reverse convertible notes due July 6, 2016 linked to Marathon Oil Corp. shares, according to an FWP with the Securities and Exchange Commission.

Interest will be payable monthly. The exact rate will be set at pricing.

The notes will be called at par if Marathon Oil stock closes at or above the initial share price on Dec. 31 or April 1, 2016.

If the notes are not called, the payout at maturity will be par unless Marathon Oil stock closes below the trigger level, 75% of the initial level, during the life of the notes and finishes below the initial price, in which case the payout will be a number of Marathon Oil shares equal to $1,000 divided by the initial share price or, at the issuer’s option, the cash value of those shares.

The notes (Cusip: 22546VFW1) will price June 30 and settle July 6.

Credit Suisse Securities (USA) LLC is the agent.

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