| Add to balance / Manage account | User: | Log out |
| Prospect News home > News index > List of issuers C > Headlines for Credit Suisse AG > News item |
Credit Suisse plans autocallable reverse convertibles on SunPower
By Marisa Wong
Madison, Wis., April 1 – Credit Suisse AG plans to price 10% to 12% autocallable reverse convertible securities due April 15, 2016 linked to SunPower Corp. shares, according to a 424B2 filing 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 the stock closes at or above the initial share price on Oct. 12, 2015 or Jan. 12, 2016.
If the notes are not called, the payout at maturity will be par unless SunPower stock closes at or below the knock-in price, 60% of the initial share price, during the life of the notes and finishes below the initial share price, in which case the payout will be a number of SunPower shares equal to $1,000 divided by the initial share price or, at the issuer’s option, the cash value of those shares.
Credit Suisse Securities (USA) LLC is the agent.
The notes will price on April 10 and settle on April 15.
The Cusip number is 22546VAS5.
© 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.