New Issue: Credit Suisse prices $6.4 million 7% reverse convertibles tied to Apple

By Susanna Moon

Chicago, May 17 - Credit Suisse AG, Nassau Branch priced $6.4 million of 7% reverse convertible notes due May 20, 2014 linked to Apple Inc. shares, according to a 424B2 filing with the Securities and Exchange Commission.

Interest will be payable monthly.

The payout at maturity will be par in cash unless Apple shares fall below the protection price, 75% of the initial price, during the life of the notes and finish below the initial price, in which case the payout will be a number of Nobel 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.

Issuer:	Credit Suisse AG, Nassau Branch
Issue:	Reverse convertible notes
Underlying stock:	Apple Inc. (Nasdaq: APPL)
Amount:	$6,404,000
Maturity:	May 20, 2014
Coupon:	7%, payable monthly
Price:	Par
Payout at maturity:	Par in cash unless Apple shares fall below the protection price and finish below the initial price, in which case 2.3311 Apple shares
Initial price:	$428.98
Protection price:	$321.735, 75% of initial price
Pricing date:	May 15
Settlement date:	May 20
Agent:	Credit Suisse Securities (USA) LLC
Fees:	1.5%
Cusip:	22546T7F2

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