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Credit Suisse to price reverse convertible autocallables on BofA
By Marisa Wong
Morgantown, W.Va., Nov. 27 – Credit Suisse AG, London Branch plans to price 6.85% autocallable reverse convertible securities due March 6, 2019 linked to the common stock of Bank of America Corp., according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable monthly.
The notes will be called at par if the shares close at or above their initial share price on June 1, 2018, Aug. 31, 2018 or Dec. 3, 2018.
The payout at maturity will be par unless the shares close below the 75% knock-in level on any day during the life of the notes and finish below the initial level, in which case investors will receive a number of Bank of America shares equal to $1,000 divided by the initial share price or, at the issuer’s option, an amount in cash equal to the value of those shares.
Credit Suisse Securities (USA) LLC is the agent.
The notes will price on Dec. 1.
The Cusip number is 22549JMN7.
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