By Jennifer Chiou
New York, March 13 - Credit Suisse AG, Nassau Branch priced $1.75 million of 0% absolute return barrier securities due April 14, 2014 linked to the common stock of Apple Inc., according to a 424B2 filing with the Securities and Exchange Commission.
A knock-in event occurs if Apple stock closes at or below the knock-in price - 75% of the initial price - on any day during the life of the notes.
If the stock finishes at or above the initial price, the payout at maturity will be par plus the gain, up to a maximum return of 22.5%.
If the stock finishes below the initial price and a knock-in event has not occurred, the payout will be par plus the absolute value of the stock return.
Otherwise, investors will receive par plus the stock return with full exposure to losses.
Credit Suisse Securities (USA) LLC is the underwriter.
| Issuer: | Credit Suisse AG, Nassau Branch
|
| Issue: | Absolute return barrier securities
|
| Underlying stock: | Apple Inc. (Nasdaq: AAPL)
|
| Amount: | $1.75 million
|
| Maturity: | April 14, 2014
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If stock finishes at or above initial price, par plus gain, capped at 22.5%; if stock finishes below initial price and knock-in event has not occurred, par plus absolute value of stock return; otherwise, par plus stock return with full exposure to losses
|
| Knock-in event: | Apple stock closes below knock-in price on any day during life of notes
|
| Initial share price: | $437.87
|
| Knock-in price: | $328.4025, 75% of initial share price
|
| Pricing date: | March 11
|
| Settlement date: | March 14
|
| Underwriter: | Credit Suisse Securities (USA) LLC
|
| Fees: | 1%
|
| Cusip: | 22546T3U3
|
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