Credit Suisse plans 7.3% autocallable reverse convertibles tied to Morgan Stanley

By Devika Patel

Knoxville, Tenn., July 3 – Credit Suisse AG, London Branch plans to price 7.3% autocallable reverse convertible securities due Oct. 12, 2018 linked to Morgan Stanley shares, according to a 424B2 filing with the Securities and Exchange Commission.

Interest will be payable monthly, with the exact rate to be set at pricing.

The notes will be called at par if Morgan Stanley shares close at or above the initial share price on Jan. 9, 2018, April 9, 2018 or July 9, 2018.

The payout at maturity will be par unless the stock finishes below its initial price and ever closes at or below its 75% knock-in level during the life of the notes, in which case investors will receive a number of Morgan Stanley 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 (Cusip: 22549JHV5) will price on July 7 and settle on July 12.

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