Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers C > Headlines for Credit Suisse AG, Nassau Branch > News item |
Credit Suisse plans 12%-13% reverse convertibles tied to Caterpillar
By Susanna Moon
Chicago, Oct. 13 - Credit Suisse AG, Nassau Branch plans to price one-year reverse convertible securities due Oct. 19, 2011 based on the performance of the common stock of Caterpillar Inc., according to an FWP filing with the Securities and Exchange Commission.
The coupon will be between 12% and 13%, payable quarterly. The exact rate will be set at pricing.
The payout at maturity will be par in cash unless Caterpillar shares fall below the knock-in price - 80% of the initial price - during the life of the notes and finish below the initial price, in which case the payout will be a number of Caterpillar shares equal to $1,000 divided by the initial price.
The notes (Cusip 22546EC44) are expected to price on Oct. 14 and settle on Oct. 19.
Credit Suisse Securities (USA) LLC is the underwriter.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.