By Toni Weeks
San Luis Obispo, Calif., Nov. 5 – Credit Suisse AG, London Branch priced $370,000 of 8% autocallable reverse convertible securities due Nov. 5, 2015 linked to HollyFrontier Corp. shares, according to a 424B2 filing with the Securities and Exchange Commission.
Interest will be payable monthly.
The notes will be called at par if the stock closes at or above the initial share price on any of two trigger observation dates, which are April 30 and July 31, 2015.
If the notes are not called, the payout at maturity will be par unless HollyFrontier stock closes at or below the knock-in price, 75% of the initial share price, during the life of the notes and finishes below the initial share price, in which case the payout will be a number of HollyFrontier shares equal to $1,000 divided by the initial share price.
Credit Suisse Securities (USA) LLC is the agent.
| Issuer: | Credit Suisse AG, London Branch
|
| Issue: | Autocallable reverse convertible securities
|
| Underlying stock: | HollyFrontier Corp. (Symbol: HFC)
|
| Amount: | $370,000
|
| Maturity: | Nov. 5, 2015
|
| Coupon: | 8%, payable monthly
|
| Price: | Par
|
| Payout at maturity: | Par unless HollyFrontier stock falls below knock-in price during life of notes and finishes below initial share price, in which case 22.036139 HollyFrontier shares
|
| Call: | At par if closing share price on April 30 and July 31, 2015 is at or above initial share price
|
| Initial share price: | $45.38
|
| Knock-in price: | $34.035, 75% of initial share price
|
| Pricing date: | Oct. 31
|
| Settlement date: | Nov. 5
|
| Agent: | Credit Suisse Securities (USA) LLC
|
| Fees: | 2.1%
|
| Cusip: | 22547QVY9
|
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