CHS Inc | 6.75% Class B Reset Rate Cumul Redeemable Preferred Stock Series 3 (CHSCM)
Prospectus excerpt: Dividends on Class B Reset Rate Cumulative Redeemable Preferred Stock, Series 3 (the "Class B Series 3 Preferred Stock"), of CHS Inc. ("CHS") will be cumulative and will be payable quarterly in arrears, if, when and as declared by our Board of Directors, at the rate of 6.75% per annum of the liquidation preference of $25.00 per share (equivalent to $1.6875 per share per annum) from, and including, September 15, 2014 to, but excluding, September 30, 2024, and thereafter, at an annual rate equal to three-month LIBOR, as determined for the applicable quarterly period, plus a spread of 4.155%, but in no event will the sum of such annual rate and spread be greater than 8% per annum. See "Description of Class B Series 3 Preferred Stock—Dividends." The Class B Series 3 Preferred Stock will not be redeemable prior to September 30, 2024. On and after September 30, 2024, the Class B Series 3 Preferred Stock may be redeemed for cash at the option of CHS, in whole or in part, at a per share redemption price equal to the per share liquidation preference of $25.00, plus accumulated and unpaid dividends, if any, thereon to, and including, the date of redemption. The Class B Series 3 Preferred Stock will not have a stated maturity and, except in connection with certain change of control transactions, holders thereof will not have the right to require CHS to redeem their Class B Series 3 Preferred Stock at any time. The Class B Series 3 Preferred Stock, by its terms, will not be convertible into or exchangeable for any property or securities of CHS. See "Description of Class B Series 3 Preferred Stock—Redemption—Redemption at Our Option."
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CHS is an integrated agricultural cooperative, providing grain, foods and energy resources to businesses and consumers on a global basis. Co.'s reportable segments include: Energy, which produces and provides primarily for the wholesale distribution and transportation of petroleum products; Ag, which purchases and further processes or resells grains and oilseeds originated by its country operations business, by its member cooperatives and by third parties and also serves as a wholesaler and retailer of crop inputs; and Nitrogen Production, which consists of its equity method investment in CF Industries Nitrogen, LLC and produces and distributes nitrogen fertilizer. Preferreds: CHSCP, CHSCO, CHSCN, CHSCM, CHSCL Open the CHSCP Information Page » |
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