Narrative:

Light transport X was given an initial altitude of 16000'. Then, while in the climb, we were told to stop at 11000'. The captain repeated what I believe to be an altitude of 12000', which is what we both thought center had said. Setting the altitude alert for 12000', we continued the climb. When passing through 11000', center called to medium large transport Y and made a traffic advisory to him, then he advised us on medium large transport Y. We acknowledged a visual on medium large transport Y. Upon noticing medium large transport Y's altitude we queried ATC about our altitude clearance, at which point ATC advised us of our deviation and said it would be investigated. Could have been avoided if ATC had confirmed altitude clearance on readback.

Google
 

Original NASA ASRS Text

Title: ACR-LTT HEARD CLRNC TO CLIMB TO 12000' AND CLIMBED INTO CONFLICT WITH AN ACR-MLG ALREADY AT 12000'.

Narrative: LTT X WAS GIVEN AN INITIAL ALT OF 16000'. THEN, WHILE IN THE CLB, WE WERE TOLD TO STOP AT 11000'. THE CAPT REPEATED WHAT I BELIEVE TO BE AN ALT OF 12000', WHICH IS WHAT WE BOTH THOUGHT CENTER HAD SAID. SETTING THE ALT ALERT FOR 12000', WE CONTINUED THE CLB. WHEN PASSING THROUGH 11000', CENTER CALLED TO MLG Y AND MADE A TFC ADVISORY TO HIM, THEN HE ADVISED US ON MLG Y. WE ACKNOWLEDGED A VISUAL ON MLG Y. UPON NOTICING MLG Y'S ALT WE QUERIED ATC ABOUT OUR ALT CLRNC, AT WHICH POINT ATC ADVISED US OF OUR DEVIATION AND SAID IT WOULD BE INVESTIGATED. COULD HAVE BEEN AVOIDED IF ATC HAD CONFIRMED ALT CLRNC ON READBACK.

Data retrieved from NASA's ASRS site as of August 2007 and automatically converted to unabbreviated mixed upper/lowercase text. This report is for informational purposes with no guarantee of accuracy. See NASA's ASRS site for official report.