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Credit Suisse to price 12% reverse convertible on Restoration Hardware
By Angela McDaniels
Tacoma, Wash., Oct. 4 - Credit Suisse AG plans to price 12% reverse convertible notes due Oct. 17, 2014 linked to the common stock of Restoration Hardware Holdings, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Interest will be payable monthly.
The payout at maturity will be par unless Restoration Hardware stock falls below the knock-in price, 70% 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 Restoration Hardware shares equal to $1,000 divided by the initial share price or, at the issuer's option, the value of those shares in cash.
Credit Suisse Securities (USA) LLC is the agent.
The notes are expected to price Oct. 11 and settle Oct. 17.
The Cusip number is 22547QC79.
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