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Credit Suisse plans 8% autocallable reverse convertible securities on Kansas City Southern
By Marisa Wong
Madison, Wis., March 4 - Credit Suisse AG plans to price 8% autocallable reverse convertible securities due March 19, 2015 linked to Kansas City Southern shares, according to a 424B2 filing with the Securities and Exchange Commission.
Interest will be payable monthly.
The notes will be called at par if the stock closes at or above the initial share price on any quarterly call date.
The payout at maturity will be par unless Kansas City Southern stock closes at or below the knock-in price, about 70% 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 Kansas City Southern shares equal to $1,000 divided by the initial share price.
The exact terms will be set at pricing.
Credit Suisse Securities (USA) LLC is the agent.
The notes will price on March 14 and settle on March 19.
The Cusip number is 22547QKA3.
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