By Jennifer Chiou
New York, Oct. 16 - Credit Suisse AG, Nassau Branch priced $2.4 million of contingent coupon callable yield notes due April 17, 2014 linked to Wells Fargo & Co. shares, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay an annualized coupon of 8.6% each quarter if the closing price of Wells Fargo stock is equal to or greater than the barrier price, 70% of the initial price. Otherwise, holders will not receive the contingent interest payment for that quarter.
The notes will be automatically called at par plus the contingent coupon if the closing price of the underlying shares on any of the quarterly valuation dates is greater than or equal to the initial share price.
If the notes are not automatically called, the payout at maturity will be par if the final share price is greater than or equal to the knock-in price -70% of the initial price. If the final share price is less than the knock-in price, investors will receive a number of shares equal to $1,000 divided by the initial share price.
Credit Suisse Securities (USA) LLC is the agent.
| Issuer: | Credit Suisse AG, Nassau Branch
|
| Issue: | Contingent coupon callable yield notes
|
| Underlying stock: | Wells Fargo & Co. (NYSE: WFC)
|
| Amount: | $2.4 million
|
| Maturity: | April 17, 2014
|
| Coupon: | 8.65% annualized, payable quarterly, if Wells Fargo shares closed at or above barrier price
|
| Price: | Par
|
| Payout at maturity: | Par in cash unless Wells Fargo shares finish below barrier price, in which case a number of shares equal to $1,000 divided by the initial share price
|
| Call: | At par plus contingent coupon if closing share price on the quarterly valuation dates is greater than or equal to initial share price
|
| Initial share price: | $34.25
|
| Barrier price: | $23.975, 70% of initial share price
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| Pricing date: | Oct. 12
|
| Settlement date: | Oct. 17
|
| Agent: | Credit Suisse Securities (USA) LLC
|
| Fees: | 1.15%
|
| Cusip: | 22546TD99
|
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