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Credit Suisse plans 14%-16% six-month reverse convertibles on Marathon
By Susanna Moon
Chicago, Aug. 30 - Credit Suisse AG, Nassau Branch plans to price 14% to 16% annualized reverse convertible notes due March 21, 2012 linked to Marathon Petroleum Corp. shares, according to a 424B2 filing with the Securities and Exchange Commission.
Interest will be payable quarterly.
The payout at maturity will be par unless Marathon 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 Marathon shares equal to $1,000 divided by the initial share price.
Credit Suisse Securities (USA) LLC is the agent.
The issue is expected to price on Sept. 16 and settle on Sept. 21.
The Cusip number is 22546TEH0.
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