By Angela McDaniels
Tacoma, Wash., May 24 – Credit Suisse AG, London Branch priced $2.49 million of 8.8% airbag autocallable yield notes due May 26, 2017 linked to the common stock of Royal Caribbean Cruises Ltd., according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable monthly.
The notes will be called automatically at par if Royal Caribbean shares close at or above the initial share price on any quarterly observation date.
The payout at maturity will be par unless the final share price is less than the conversion price, in which case the payout will be a number of Royal Caribbean shares equal to $1,000 divided by the conversion price. The conversion price is 80% of the initial share price.
UBS Financial Services Inc. is acting as distributor.
Issuer: | Credit Suisse AG, London Branch
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Issue: | Airbag autocallable yield notes
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Underlying stock: | Royal Caribbean Cruises Ltd. (Symbol: RCL)
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Amount: | $2.49 million
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Maturity: | May 26, 2017
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Coupon: | 8.8%, payable monthly
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Price: | Par
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Payout at maturity: | Par unless final share price is less than conversion price, in which case 15.8428 Royal Caribbean shares
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Call: | Automatically at par if Royal Caribbean shares close at or above initial share price on any quarterly observation date
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Initial share price: | $78.90
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Conversion price: | $63.12, 80% of initial share price
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Pricing date: | May 20
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Settlement date: | May 25
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Distributor: | UBS Financial Services Inc.
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Fees: | 1.5%
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Cusip: | 22549H609
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