Credit Suisse plans 10.25% autocallable reverse convertibles on Nvidia

By Susanna Moon

Chicago, Feb. 24 – Credit Suisse AG, London Branch plans to price 10.25% autocallable reverse convertible securities due June 4, 2018 linked to Nvidia Corp. stock, according to a 424B2 filing with the Securities and Exchange Commission.

Interest is payable monthly.

The notes will be called at par if Nvidia shares close at or above the initial share price on Aug. 30, 2017, Nov. 29, 2017 or Feb. 28, 2018.

The payout at maturity will be par unless Nvidia shares close at or below the knock-in price, 62.5% of the initial share price, on any day during the life of the notes and finish below the initial share price, in which case investors will receive a number of Nvidia 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 Feb. 28 and settle on March 3.

The Cusip number is 22549JEW6.

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