New Issue: Credit Suisse prices $2.33 million 6% reverse convertibles linked to SPDR S&P 500

By Susanna Moon

Chicago, Aug. 26 - Credit Suisse AG, Nassau Branch priced $2.33 million of 6% reverse convertible securities due Nov. 29, 2010 based on the performance of SPDR S&P 500 exchange-traded fund shares, according to an FWP filing with the Securities and Exchange Commission.

The payout at maturity will be par in cash unless SPDR S&P 500 shares fall below the knock-in price - 84% of the initial price - during the life of the notes and finish below the initial price, in which case the payout will a number of SPDR shares equal to $1,000 divided by the initial price.

Credit Suisse Securities (USA) LLC is the underwriter.

Issuer:	Credit Suisse AG, Nassau Branch
Issue:	Reverse convertible securities
Underlying fund:	SPDR S&P 500 exchange-traded fund
Amount:	$2,325,000
Maturity:	Nov. 29, 2010
Coupon:	6%, payable quarterly
Price:	Par
Payout at maturity:	Par in cash unless the shares fall below the knock-in price and finish below the initial price, in which case 9.4733 shares
Initial price:	$105.56
Knock-in price:	$88.67, or 84% of initial price
Pricing date:	Aug. 24
Settlement date:	Aug. 27
Agent:	Credit Suisse Securities (USA) LLC
Fees:	0.25%
Cusip:	22546EXA7

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.