By Angela McDaniels
Tacoma, Wash., Aug. 2 - Credit Suisse AG, Nassau Branch priced $24.64 million of 7% equity-linked notes due Aug. 9, 2012 linked to the common stock of Baxter International Inc., according to an FWP filing with the Securities and Exchange Commission.
There is an over-allotment option for an additional $2.64 million of notes.
Interest is payable monthly.
Each note has a face amount of $56.41, which is equal to the initial price of Baxter stock.
If the final share price is less than 107.7% of the initial share price, the payout at maturity will equal 92.851% of the final share price, subject to a minimum of $40.75665 per note.
If the final share price is greater than or equal to 107.7% of the initial share price and less than 112% of the initial share price, the payout will be par.
Otherwise, the payout will be par plus 0.65% for every 1% that the final share price exceeds 112% of the initial share price.
At its option, the issuer can make the payout in cash or Baxter stock.
The underwriter was not specified in the filing.
| Issuer: | Credit Suisse AG, Nassau Branch
|
| Issue: | Equity-linked notes
|
| Underlying stock: | Baxter Corp. (NYSE: BAX)
|
| Amount: | $24,640,000.82
|
| Greenshoe: | $2,640,100.82
|
| Maturity: | Aug. 9, 2012
|
| Coupon: | 7%, payable monthly
|
| Price: | Par of $56.41
|
| Payout at maturity: | If final share price is less than upper put strike price, 92.851% of the final share price, subject to minimum payout of $40.75665 per note; if final share price is greater than or equal to upper put strike price and less than call strike price, par; otherwise, par plus 65% of the amount by which the final share price exceeds the call strike price; payable in cash or Baxter stock
|
| Initial share price: | $56.41
|
| Upper put strike price: | $60.754, 107.7% of initial share price
|
| Call strike price: | $63.179, 112% of initial share price
|
| Pricing date: | Aug. 2
|
| Settlement date: | Aug. 9
|
| Cusip: | 22542D712
|
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