New Issue: Credit Suisse sells $514,000 of 13% reverse convertibles on Cummins

By Marisa Wong

Madison, Wis., Dec. 14 - Credit Suisse AG, Nassau Branch priced $514,000 of 13% reverse convertible securities due Dec. 17, 2012 linked to Cummins Inc. shares, according to a 424B2 filing with the Securities and Exchange Commission.

Interest is payable monthly.

The payout at maturity will be par in cash unless Cummins shares fall below 75% of the initial price on any day during the life of the notes and finish below the initial price, in which case the payout will be a number of Cummins shares equal to $1,000 divided by the initial price.

Credit Suisse Securities (USA) LLC will be the agent.

Issuer:	Credit Suisse AG, Nassau Branch
Issue:	Reverse convertibles
Underlying stock:	Cummins Inc. (NYSE: CMI)
Amount:	$514,000
Maturity:	Dec. 17, 2012
Coupon:	13%, payable monthly
Price:	Par
Payout at maturity:	Par in cash unless Cummins shares fall below 75% of initial price during life of the notes and finish below initial price, in which case a number of Cummins shares equal to $1,000 divided by initial price
Initial price:	$92.37
Knock-in price:	$69.2775, 75% of initial price
Pricing date:	Dec. 12
Settlement date:	Dec. 15
Agent:	Credit Suisse Securities (USA) LLC
Fees:	1.75%
Cusip:	22546TJL6

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