By Angela McDaniels
Tacoma, Wash., March 16 – Credit Suisse AG, London Branch priced $19.48 million of 11% STEP Income Securities due March 28, 2016 linked to the common stock of FireEye, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable quarterly.
If the final price of FireEye stock is greater than or equal to the step level, the payout at maturity will be par of $10 plus 6.01%. The step level is 111% of the initial share price.
If the final share price is greater than or equal to the initial share price but less than the step level, investors will receive par.
If the final share price is less than the initial share price but greater than or equal to the threshold value, 95% of the initial share price, the payout will be par.
Otherwise, investors will lose 1% for every 1% that the share price declines below the threshold value.
BofA Merrill Lynch is the agent.
| Issuer: | Credit Suisse AG, London Branch
|
| Issue: | STEP Income Securities
|
| Underlying stock: | FireEye, Inc. (Nasdaq: FEYE)
|
| Amount: | $19,481,130
|
| Maturity: | March 28, 2016
|
| Coupon: | 11%, payable quarterly
|
| Price: | Par of $10.00
|
| Payout at maturity: | If final price of FireEye stock is greater than or equal to step level, par of $10 plus 6.01%; if final share price is greater than or equal to initial share price but less than step level, par; if final share price is less than initial share price but greater than or equal to threshold level, par; otherwise, 1% loss for every 1% that share price declines below threshold value
|
| Initial share price: | $42.82, volume-weighted average price of stock on pricing date
|
| Step level: | $47.53, 111% of initial share price
|
| Threshold level: | $40.68, 95% of initial share price
|
| Pricing date: | March 12
|
| Settlement date: | March 19
|
| Agent: | BofA Merrill Lynch
|
| Fees: | 1.75%
|
| Cusip: | 22548D799
|
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