Credit Suisse plans 7.5%-8.5% reverse convertibles linked to SanDisk

By Marisa Wong

Madison, Wis., July 18 - Credit Suisse AG plans to price 7.5% to 8.5% annualized reverse convertible securities due Feb. 3, 2014 linked to the common stock of SanDisk Corp., according to a 424B2 filing with the Securities and Exchange Commission.

Interest will be payable monthly. The exact coupon will be set at pricing.

A knock-in event will occur if SanDisk shares fall to or below the knock-in price, 75% of the initial share price, during the life of the notes.

If a knock-in event does not occur or if it does and the final share price is greater than or equal to the initial price, the payout at maturity will be par. If a knock-in event occurs and the final share price is less than the initial price, investors will receive for each $1,000 note a number of shares of SanDisk stock equal to $1,000 divided by the initial share price.

Credit Suisse Securities (USA) LLC is the agent.

The notes are expected to price July 29 and settle Aug. 1.

The Cusip number is 22547Q5U6.

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