C# - Cannot Set / Get Value From Cookie

I have a very simple page with the following logic:

protected void Page_Load(object sender, EventArgs e)
{
if (null == Response.Cookies["UserSettings"].Value)
{
HttpCookie cookie = new HttpCookie("UserSettings");
cookie.Value = "The Big C";
cookie.Expires = DateTime.Now.AddDays(10);
Response.Cookies.Add(cookie);
}
else
{
// got here
}
}

I set a breakpoint in both the if and the else and the else break point never gets hit. The if statement gets hit every time. What could be wrong here?