By Angela McDaniels
Tacoma, Wash., March 20 - Credit Suisse AG, London Branch priced $931,000 of contingent coupon callable buffered securities due March 21, 2018 linked to the Euro Stoxx 50 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
Each month, the notes will pay a contingent coupon at an annual rate of 10% if each index closes at or above its barrier level, 80% of the initial level, on the observation date for that month.
Beginning June 23, the notes will be callable at par plus the contingent coupon, if any, on any quarterly early redemption date.
The payout at maturity will be par plus the underlying return of the lowest-performing index.
If an index's final level is greater than or equal to its initial level or is less that its initial level by no more than 20%, its underlying return will equal zero. If its final level is less than its initial level by more than 20%, its underlying return will be a negative amount equal to 125% of the amount by which the decline exceeds 20%.
Credit Suisse Securities (USA) LLC is the agent.
| Issuer: | Credit Suisse AG, London Branch
|
| Issue: | Contingent coupon callable buffered securities
|
| Underlying indexes: | Euro Stoxx 50 and Russell 2000
|
| Amount: | $931,000
|
| Maturity: | March 21, 2018
|
| Coupon: | 10%, payable monthly if each index closes at or above its barrier level on observation date for that month
|
| Price: | Par
|
| Payout at maturity: | Par plus underlying return of lowest-performing index
|
| Underlying return: | If index's final level is greater than or equal to its initial level or is less that its initial level by no more than 20%, zero; otherwise, negative amount equal to 125% of amount by which index's decline exceeds 20%
|
| Call option: | Beginning June 23, notes will be callable at par plus contingent coupon, if any, on any quarterly early redemption date
|
| Initial index levels: | 3,049.19 for Euro Stoxx 50 and 1,188.23 for Russell 2000
|
| Barrier levels: | 2,439.352 for Euro Stoxx 50 and 950.584 for Russell 2000; 80% of initial levels
|
| Pricing date: | March 18
|
| Settlement date: | March 21
|
| Agent: | Credit Suisse Securities (USA) LLC
|
| Fees: | 0.5%
|
| Cusip: | 22547QKP0
|
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