Credit Suisse’s Riskiest $17 Billion Bonds Rise After UBS Deal

Credit Suisse Group AG’s riskiest bonds rose sharply as traders bet that UBS Group AG’s deal to buy the troubled lender would spare holders significant losses.

Additional Tier 1 notes were quoted between 50 and 70 cents on the dollar in the wake of the deal announcement, up from the mid 20s to high-40s earlier in the day, according to people with knowledge of the matter, asking not to be named because price quotes in the over-the-counter market are private.

Read more: UBS Default Swaps Widen After Reaching Deal to Buy Credit Suisse

Earlier in the day, pricing ...