By Marisa Wong
Madison, Wis., Dec. 22 – Credit Suisse AG, London Branch priced $1 million of 24.6% autocallable reverse convertible securities due Dec. 24, 2015 linked to Whiting Petroleum Corp. shares, 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 monthly observation date beginning June 17.
If the notes are not called, the payout at maturity will be par unless Whiting stock closes at or below the knock-in price, 50% of the initial share price, during the life of the notes and finishes below the initial share price, in which case investors will be fully exposed to any losses.
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: | Whiting Petroleum Corp. (Symbol: WLL)
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| Amount: | $1 million
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| Maturity: | Dec. 24, 2015
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| Coupon: | 24.6%, payable monthly
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| Price: | Par
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| Payout at maturity: | Par unless Whiting stock closes at or below knock-in price during life of notes and finishes below initial share price, in which case full exposure to losses
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| Call: | At par if stock closes at or above initial share price on any monthly observation date beginning June 17
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| Initial share price: | $26.04
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| Knock-in price: | $13.02, 50% of initial share price
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| Pricing date: | Dec. 17
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| Settlement date: | Dec. 24
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| Agent: | Credit Suisse Securities (USA) LLC
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| Fees: | 2.1%
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| Cusip: | 22547QZL3
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