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Credit Suisse plans 8% autocall reverse convertibles on HollyFrontier
By Susanna Moon
Chicago, Oct. 27 – Credit Suisse AG plans to price 8% autocallable reverse convertible notes due Nov. 5, 2015 linked to HollyFrontier Corp. shares, according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable monthly.
The notes will be called at par if HollyFrontier shares close at or above the initial share price on April 30, 2015 or July 31, 2015.
The payout at maturity will be par unless HollyFrontier shares close at or below the knock-in price, 75% of the initial share price, during the life of the notes and finish below the initial share price, in which case the payout will be a number of HollyFrontier 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 Oct. 31 and settle on Nov. 5.
The Cusip number is 22547QVY9.
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