By Toni Weeks
San Luis Obispo, Calif., Oct. 30 - Credit Suisse AG, London Branch priced $722,000 of 7% autocallable reverse convertible securities due Oct. 30, 2014 linked to the common stock of Gilead Sciences, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Interest will be payable monthly.
The notes will be automatically called if the closing share price is equal to or greater than the initial price on any quarterly observation date.
The payout at maturity will be par unless Gilead Sciences stock falls below the knock-in price, 70% of the initial share price, during the life of the notes and finishes below the initial share price, in which case the payout will be a number of Gilead Sciences shares equal to $1,000 divided by the initial share price or, at the issuer's option, the value of those shares in cash.
Credit Suisse Securities (USA) LLC is the agent.
| Issuer: | Credit Suisse AG, London Branch
|
| Issue: | Autocallable reverse convertible securities
|
| Underlying stock: | Gilead Sciences, Inc. (Symbol: GILD)
|
| Amount: | $722,000
|
| Maturity: | Oct. 30, 2014
|
| Coupon: | 7%, payable monthly
|
| Price: | Par
|
| Payout at maturity: | Par unless Gilead Sciences stock falls below knock-in price during life of notes and finishes below initial share price, in which case 14.3513 Gilead Sciences shares
|
| Call: | At par if closing share price on any quarterly observation date is at or above initial share price
|
| Initial share price: | $69.68
|
| Knock-in price: | $48.776, 70% of initial share price
|
| Pricing date: | Oct. 25
|
| Settlement date: | Oct. 30
|
| Agent: | Credit Suisse Securities (USA) LLC
|
| Fees: | 1.5%
|
| Cusip: | 22547QCG9
|
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