By Susanna Moon
Chicago, May 13 - Credit Suisse AG, Nassau Branch priced $800,000 of autocallable contingent coupon autocallable notes due Nov. 17, 2014 linked to Transocean Ltd. shares, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annualized rate of 8.7% if Transocean shares at or above the 70% coupon barrier level on the valuation date for that quarter.
The notes will be called at par plus the contingent coupon if the shares close at or above the initial share price on any quarterly call date.
The payout at maturity will be par plus the contingent coupon unless the shares close below the 70% downside threshold price, in which case investors will receive a number of Transocean shares equal to $1,000 divided by the initial share price or, at the issuer's option, the cash equivalent.
Credit Suisse Securities (USA) LLC is the underwriter.
| Issuer: | Credit Suisse AG, Nassau Branch
|
| Issue: | Contingent coupon autocallable notes
|
| Underlying stock: | Transocean Ltd. (NYSE: RIG)
|
| Amount: | $800,000
|
| Maturity: | Nov. 17, 2014
|
| Coupon: | 8.7% annualized for each quarter that Transocean shares close at or above barrier level
|
| Price: | Par
|
| Payout at maturity: | Par in cash unless Transocean shares finish below downside threshold price, in which case of number of Transocean shares equal to par divided by initial share price
|
| Call: | At par plus contingent coupon if shares close at or above initial share price on any quarterly valuation date
|
| Initial share price: | $54.91
|
| Barrier level: | $38.437, 70% of initial share price
|
| Pricing date: | May 9
|
| Settlement date: | May 16
|
| Underwriter: | Credit Suisse Securities (USA) LLC
|
| Fees: | 1%
|
| Cusip: | 22547Q2A3
|
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