Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers S > Headlines for SPDR S&P 500 ETF Trust > News item |
Credit Suisse eyes autocallable reverse convertible securities on two ETFs
By Sarah Lizee
Olympia, Wash., Aug. 6 – Credit Suisse AG, London Branch plans to price 5.8% autocallable reverse convertible securities due Nov. 16, 2020 linked to the iShares Russell 2000 ETF and the SPDR S&P 500 ETF Trust, according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable monthly.
The notes will be called at par if each ETF closes at or above its initial price on Feb. 11, 2020, May 11, 2020 or Aug. 11, 2020.
The payout at maturity will be par unless either ETF finishes below its initial level and either index has ever closed below the knock-in price, 80% of the initial price, during the life of the notes, in which case investors will receive a number of shares equal to $1,000 divided by the initial price of the lesser performing ETF 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 (Cusip: 22549JV80) will price on Aug. 9.
© 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.