By Susanna Moon
Chicago, Feb. 27 - Credit Suisse AG, Nassau Branch priced $43.02 million of 8% equity-linked notes due March 5, 2015 linked to Occidental Petroleum Corp. shares with a $3.91 million greenshoe, according to an FWP filing with the Securities and Exchange Commission.
Interest is payable monthly.
Each note has a face amount of $95.15, which is equal to the initial price of Occidental stock.
If shares finish at or below the lower put strike price - 80% of the initial share price - the payout at maturity will be 94.3387% of the lower put strike price.
If the shares finish above the lower put strike price but below the upper put strike price - 106% of the initial share price - the payout will be 94.3387% of the return.
If the shares finish at or above the upper put strike price but below the call strike price - 109% of the initial share price - the payout will be par.
If the final share price is greater than or equal to the call strike price, the payout will be par plus 65% of the difference of the final share price minus the call strike price.
The issuer may opt to pay out in cash or Occidental stock.
Credit Suisse Securities (USA) LLC is the agent.
| Issuer: | Credit Suisse AG, Nassau Branch
|
| Issue: | Equity-linked notes
|
| Underlying stock: | Occidental Petroleum Corp. (Symbol: OXY)
|
| Amount: | $43,016,268.35
|
| Greenshoe: | $3,910,569.85
|
| Maturity: | March 5, 2015
|
| Coupon: | 8%, payable monthly
|
| Price: | Par of $95.15
|
| Payout at maturity: | If shares finish at or below lower put strike price, 94.3387% of lower put strike price; if shares finish above lower put strike price but below upper put strike price, 94.3387% of return; if shares finish at or above upper put strike price but below call strike price, par; otherwise, par plus 65% of difference of final share price minus call strike price
|
| Initial share price: | $95.15
|
| Lower put strike price: | $76.16, 80% of initial share price
|
| Upper put strike price: | $100.86, 106% of initial share price
|
| Call strike price: | $103.71, 109% of initial share price
|
| Pricing date: | Feb. 26
|
| Settlement date: | March 5
|
| Agent: | Credit Suisse Securities (USA) LLC
|
| Cusip: | 22539T514
|
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