New Issue: Credit Suisse prices $2.68 million 8.15% reverse convertibles on Fluor

By Marisa Wong

Madison, Wis., May 11 – Credit Suisse AG, London Branch priced $2.68 million of 8.15% reverse convertible securities due May 12, 2016 linked to the common stock of Fluor Corp., according to a 424B2 filing with the Securities and Exchange Commission.

Interest is payable monthly.

A knock-in event occurs if the closing price of Fluor stock is at or below its knock-in price – 75% of the initial price – on any day during the life of the notes.

The payout at maturity will be par unless the final share price is less than the initial price and a knock-in event has occurred, in which case investors will receive a number of shares of Fluor stock equal to $1,000 divided by the initial price, with fractional shares paid in cash.

Credit Suisse Securities (USA) LLC is the agent.

Issuer:	Credit Suisse AG, London Branch
Issue:	Reverse convertible notes
Underlying stock:	Fluor Corp. (Symbol: FLR)
Amount:	$2,678,000
Maturity:	May 12, 2016
Coupon:	8.15%, payable monthly
Price:	Par
Payout at maturity:	Par unless final share price is less than initial price and a knock-in event has occurred, in which case a number of shares of Fluor stock equal to $1,000 divided by initial price, with fractional shares paid in cash
Knock-in event:	Closing share price is at or below knock-in price on any day during life of notes
Initial price:	$58.63
Knock-in price:	$43.9725, 75% of initial price
Pricing date:	May 8
Settlement date:	May 12
Agent:	Credit Suisse Securities (USA) LLC
Fees:	0.25%
Cusip:	22546VDH6

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