By Toni Weeks
San Luis Obispo, Calif., April 3 - Credit Suisse AG, London Branch priced $260,000 of high/low coupon callable yield notes due July 3, 2015 linked to the iShares MSCI Emerging Markets exchange-traded fund and the iShares MSCI Brazil Capped ETF, according to a 424B2 filing with the Securities and Exchange Commission.
A knock-in event will occur if either underlying component closes at or below its knock-in level, 65% of its initial level, during the life of the notes.
Interest is payable quarterly. The coupon will be 9% per year unless a knock-in event occurs, in which case the coupon will be 1% per year for that and each subsequent quarterly interest period.
The payout at maturity will be par unless a knock-in event has occurred, in which case the payout will be par plus the return of the lowest-performing underlying component, subject to a maximum payout of par.
The notes are callable at par on any interest payment date.
Credit Suisse Securities (USA) LLC is the underwriter.
| Issuer: | Credit Suisse AG, London Branch
|
| Issue: | High/low coupon callable yield notes
|
| Underlying funds: | iShares MSCI Emerging Markets ETF and iShares MSCI Brazil Capped ETF
|
| Amount: | $260,000
|
| Maturity: | July 3, 2015
|
| Coupon: | 9% per year unless either underlying component closes at or below its knock-in level during the life of the notes, in which case coupon will be 1% from then on; payable quarterly
|
| Price: | Par
|
| Payout at maturity: | If either underlying component closes at or below its knock-in level during life of notes, par plus return of lowest-performing underlying component, up to maximum payout of par; otherwise, par
|
| Call option: | At par on any interest payment date beginning July 3
|
| Initial levels: | $40.99 for EM fund and $45.02 for gold fund
|
| Knock-in levels: | $26.6435 for EM fund and $29.263 for gold fund; 65% of initial levels
|
| Pricing date: | March 31
|
| Settlement date: | April 3
|
| Underwriter: | Credit Suisse Securities (USA) LLC
|
| Fees: | 0.75%
|
| Cusip: | 22547QJQ0
|
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