New Issue: Credit Suisse prices $1 million 10.1% reverse convertibles linked to Pulte

By Jennifer Chiou

New York, Dec. 11 - Credit Suisse AG prices $1 million 10.1% reverse convertible securities due Dec. 17, 2012 linked to the common stock of Pulte Home, Inc., according to an FWP filing with the Securities and Exchange Commission.

Interest is payable monthly.

The payout at maturity will be par unless Pulte stock falls by more than 35% during the life of the notes and finishes below the initial share price, in which case the payout will be a number of Pulte shares equal to par divided by the initial share price.

Credit Suisse Securities (USA) LLC is the underwriter.

Issuer:	Credit Suisse AG
Issue:	Reverse convertible securities
Underlying stock:	Pulte Home, Inc. (NYSE: PHM)
Amount:	$1 million
Maturity:	Dec. 17, 2012
Coupon:	10.1%, payable monthly
Price:	Par
Payout at maturity:	If Pulte stock falls below the knock-in level during the life of the notes and the final share price is less than the initial share price, a number of Pulte shares equal to par divided by the initial share price; otherwise, par
Initial share price:	$8.81
Knock-in price:	$5.73, 65% of initial share price
Pricing date:	Dec. 11
Settlement date:	Dec. 18
Underwriter:	Credit Suisse Securities (USA) LLC
Fees:	2.75%

© 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.