By Jennifer Chiou
New York, Feb. 26 - Credit Suisse AG, Nassau Branch priced $2 million of contingent coupon callable yield notes due Feb. 26, 2015 linked to the common stock of Deutsche Bank AG, according to a 424B2 filing with the Securities and Exchange Commission.
Barclays is the placement agent.
The notes will pay a quarterly coupon of 10% per year if the closing price of Deutsche Bank stock is equal to or greater than the barrier price, 60% of the initial price, on a quarterly observation date. Otherwise, holders will not receive the contingent interest payment for that quarter.
The notes are callable at par plus the contingent coupon on any quarterly valuation date beginning on May 28, 2013.
If the notes are not called, the payout at maturity will be par if the final share price is greater than or equal to the knock-in price, 60% of the initial price. If the final share price is less than the knock-in price, investors will receive a number of shares equal to $1,000 divided by the initial share price.
| Issuer: | Credit Suisse AG, Nassau Branch
|
| Issue: | Contingent coupon callable yield notes
|
| Underlying stock: | Deutsche Bank AG (Symbol: DB)
|
| Amount: | $2 million
|
| Maturity: | Feb. 26, 2015
|
| Coupon: | 10% per year, payable quarterly if Deutsche Bank shares close at or above barrier price on quarterly observation date
|
| Price: | Par
|
| Payout at maturity: | Par in cash unless Deutsche Bank shares finish below knock-in price, in which case a number of shares equal to $1,000 divided by the initial share price
|
| Call option: | At par plus contingent coupon on any quarterly observation date beginning on May 28, 2013
|
| Initial share price: | $47.59
|
| Barrier/knock-in price: | $28.554, 60% of initial share price
|
| Pricing date: | Feb. 21
|
| Settlement date: | Feb. 26
|
| Placement agent: | Barclays
|
| Fees: | 0.65%
|
| Cusip: | 22546T2J9
|
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