By Marisa Wong
Madison, Wis., April 2 - Credit Suisse AG, London Branch priced $608,000 of 8% autocallable reverse convertible notes due April 3, 2015 linked to the common stock of VeriFone Systems, Inc., 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 quarterly call date.
The payout at maturity will be par unless VeriFone stock closes at or below the knock-in price, 65% 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 VeriFone 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: | VeriFone Sciences, Inc. (Symbol: PAY)
|
| Amount: | $608,000
|
| Maturity: | April 3, 2015
|
| Coupon: | 8%, payable monthly
|
| Price: | Par
|
| Payout at maturity: | Par unless VeriFone stock falls below knock-in price during life of notes and finishes below initial share price, in which case 29.5683 VeriFone shares
|
| Call: | At par if closing share price on any quarterly observation date is at or above initial share price
|
| Initial share price: | $33.82
|
| Knock-in price: | $21.983, 65% of initial share price
|
| Pricing date: | March 31
|
| Settlement date: | April 3
|
| Agent: | Credit Suisse Securities (USA) LLC
|
| Fees: | 2.1%
|
| Cusip: | 22547QL46
|
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