Published on 9/28/2011 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse prices $1.6 million contingent coupon CS notes linked to 15 stocks
By Marisa Wong
Madison, Wis., Sept. 28 - Credit Suisse AG, Nassau Branch priced $1.6 million of contingent coupon CS notes due Oct. 1, 2015 linked to a basket of common stocks, according to a 424B2 filing with the Securities and Exchange Commission.
The equally weighted basket includes Kraft Foods Inc., Johnson & Johnson, Marsh & McLennan Cos., Inc., Merck & Co., Inc., Abbott Laboratories, Pfizer Inc., PDL BioPharma, Inc., Maxim Integrated Products, Inc., H.J. Heinz Co., Molson Coors Brewing Co., General Electric Co., Southern Copper Corp., KLA-Tencor Corp., Analog Devices, Inc. and Intel Corp.
A basket component's return on any valuation date will equal a fixed return of 8.25% if the closing share price on that valuation date is greater than or equal to the initial price. If the closing share price on the valuation date is less than the initial price, the component return will be the greater of the share price return and negative 25%.
Investors will receive an annual contingent coupon equal to the basket return on the relevant coupon valuation date, subject to a floor of zero. The valuation dates are Sept. 26, 2012, Sept. 26, 2013, Sept. 26, 2014 and Sept. 28, 2015.
The payout at maturity will be par.
Credit Suisse Securities (USA) LLC is the agent.
| Issuer: | Credit Suisse AG, Nassau Branch
|
| Issue: | Contingent coupon CS notes
|
| Underlying stock: | Kraft Foods Inc. (NYSE: KFT), Johnson & Johnson (NYSE: JNJ), Marsh & McLennan Cos., Inc. (NYSE: MMC), Merck & Co., Inc. (NYSE: MRK), Abbott Laboratories (NYSE: ABT), Pfizer Inc. (NYSE: PFE), PDL BioPharma, Inc. (Nasdaq: PDLI), Maxim Integrated Products, Inc. (Nasdaq: MXIM), H.J. Heinz Co. (NYSE: HNZ), Molson Coors Brewing Co. (NYSE: TAP), General Electric Co. (NYSE: GE), Southern Copper Corp. (NYSE: SCCO), KLA-Tencor Corp. (Nasdaq: KLAC), Analog Devices, Inc. (NYSE: ADI) and Intel Corp. (Nasdaq: INTC)
|
| Amount: | $1,595,000
|
| Maturity: | Oct. 1, 2015
|
| Coupon: | Greater of basket return on coupon valuation date and zero; payable annually
|
| Price: | Par
|
| Payout at maturity: | Par
|
| Initial prices: | $34.26 for Kraft, $62.69 for Johnson, $27.26 for Marsh, $31.60 for Merck, $50.75 for Abbott, $17.77 for Pfizer, $5.85 for PDL, $24.09 for Maxim, $50.72 for Heinz, $39.81 for Coors, $15.57 for GE, $26.57 for Southern, $39.69 for KLA, $32.63 for Analog, $22.24 for Intel
|
| Pricing date: | Sept. 26
|
| Settlement date: | Sept. 29
|
| Agent: | Credit Suisse Securities (USA) LLC
|
| Fees: | 3%
|
| Cusip: | 22546TEK3
|
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