By Toni Weeks
San Luis Obispo, Calif., April 1 - Credit Suisse AG, London Branch priced $2.02 million of 8.4% autocallable reverse convertible notes due April 1, 2015 linked to the common stock of Gilead Sciences, 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 Gilead shares close at or above the initial share price on June 26, Sept. 26, Dec. 29, 2014 or March 27, 2015.
The payout at maturity will be par unless Gilead shares close at or below the knock-in price, 70% of the initial share price, during the life of the notes and finish below the initial share price, in which case the payout will be a number of Gilead 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
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Issue: | Autocallable reverse convertible securities
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Underlying stock: | Gilead Sciences, Inc. (Symbol: GILD)
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Amount: | $2,023,000
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Maturity: | April 1, 2015
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Coupon: | 8.4%, payable monthly
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Price: | Par
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Payout at maturity: | Par unless Gilead stock falls below knock-in price during life of notes and finishes below initial share price, in which case 13.9997 Gilead shares
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Call: | At par if closing share price on any quarterly observation date is at or above initial share price
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Initial share price: | $71.43
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Knock-in price: | $50.001, 70% of initial share price
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Pricing date: | March 27
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Settlement date: | April 1
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Agent: | Credit Suisse Securities (USA) LLC
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Fees: | 2.1%
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Cusip: | 22547QKR6
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