By Angela McDaniels
Tacoma, Wash., June 10 – Credit Suisse AG, London Branch priced $1 million of contingent coupon autocallable yield notes due June 7, 2017 linked to the common stocks of Micron Technology, Inc. and General Motors Co., according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes will pay a contingent coupon at an annualized rate of 27% if each stock closes at or above its barrier level, 70% of its initial share price, on the observation date for that quarter.
The notes will be called at par if each stock closes at or above its initial level on any quarterly observation date.
The payout at maturity will be par unless either stock finishes below its barrier level, in which case investors will be exposed to the decline of the worse-performing stock.
Credit Suisse Securities (USA) LLC is the agent.
| Issuer: | Credit Suisse AG, London Branch
|
| Issue: | Contingent coupon autocallable yield notes
|
| Underlying stocks: | Micron Technology, Inc. (Symbol: MU) and General Motors Co. (Symbol: GM)
|
| Amount: | $1 million
|
| Maturity: | June 6, 2017
|
| Coupon: | Each quarter, notes pay contingent coupon at rate of 27% per year unless either stock closes below barrier level on observation date for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par unless either stock finishes below barrier level, in which case full exposure to decline of worse-performing stock
|
| Call: | Automatically at par if each stock closes at or above initial share price on any quarterly observation date
|
| Initial share prices: | $13.09 for Micron and $30.22 for GM
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| Knock-in levels: | $9.163 for Micron and $21.154 for GM; 70% of initial share prices
|
| Pricing date: | June 1
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| Settlement date: | June 6
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| Agent: | Credit Suisse Securities (USA) LLC
|
| Fees: | 1.25%
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