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Prospect News home > News index > List of issuers C > Headlines for Credit Suisse AG, Nassau Branch > News item |
Credit Suisse to price 18%-18.5% reverse convertibles linked to Petrobras
By Susanna Moon
Chicago, July 15 - Credit Suisse, Nassau branch plans to price 18% to 18.5% annualized reverse convertible notes due Oct. 30, 2008 linked to American Depositary Receipts representing the common shares of Petroleo Brasileiro SA, according to an FWP filing with the Securities and Exchange Commission.
Interest will be payable monthly.
Payout at maturity will be par unless Petrobras stock falls below the knock-in price - 80% 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 Petrobras shares equal to $1,000 divided by the initial share price.
The issue is expected to price on July 25 and settle on July 30.
Credit Suisse Securities (USA), LLC is the underwriter.
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