Published on 3/25/2014 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse prices $545,000 autocallable return enhanced notes linked to GM
By Angela McDaniels
Tacoma, Wash., March 25 - Credit Suisse AG, London Branch priced $545,000 of 0% autocallable return enhanced notes due April 8, 2015 linked to the common stock of General Motors Co., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be automatically called at 117.7% of par if GM stock closes at or above the trigger level, 108.85% of the initial share price, on July 3, 2014, Oct. 2, 2014 or Jan. 2, 2015.
If the final share price is greater than the initial share price, the payout at maturity will be par plus double the stock return, subject to a maximum return of 17.7%. Otherwise, investors will be fully exposed to the decline in the stock price.
The final share price will be the average of the stock's closing share prices on the five days ending April 2, 2015.
J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA are the agents.
| Issuer: | Credit Suisse AG, London Branch
|
| Issue: | Autocallable return enhanced notes
|
| Underlying stock: | General Motors Co. (Symbol: GM)
|
| Amount: | $545,000
|
| Maturity: | April 8, 2015
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If final share price is greater than initial share price, par plus 200% of stock return, subject to maximum return of 17.7%; otherwise, full exposure to decline in stock price
|
| Call: | Automatically at 117.7% of par if GM stock closes at or above trigger price on July 3, 2014, Oct. 2, 2014 or Jan. 2, 2015
|
| Initial share price: | $35.01
|
| Trigger price: | $38.108385, 108.85% of initial share price
|
| Final share price: Average of stock's closing share prices on five days ending April 2, 2015
|
| Pricing date: | March 21
|
| Settlement date: | March 26
|
| Agents: | J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA
|
| Fees: | 1%
|
| Cusip: | 22547QKX3
|
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