By Toni Weeks
San Luis Obispo, Calif., Dec. 4 - Credit Suisse AG, London Branch priced $450,000 of contingent coupon autocallable notes due Dec. 6, 2017 linked to five stocks, according to a 424B2 filing with the Securities and Exchange Commission.
The stocks include common share of PepsiCo, Inc., Gilead Sciences, Inc., Qualcomm Inc. and Chevron Corp. and class B common shares of Nike, Inc.
The notes will pay a contingent quarterly coupon at an annual rate of 8% if each stock closes at or above its respective coupon barrier price, 70% of its initial price, on the valuation date for that quarter.
The notes will be called at par plus the contingent coupon if each stock closes at or above its respective early redemption trigger price, 97.5% of its initial price, on any quarterly observation date other than the final valuation date.
An upper barrier event occurs if the final share price of at least one of the stocks is at or above its upper barrier price, 115% of its initial price.
If the notes are not called, the payout at maturity will be par if an upper barrier event has occurred.
If an upper barrier event has not occurred and the final price of each stock is above its knock-in price, 60% of its initial price, the payout will be par. If an upper barrier event has not occurred and the final price of any stock closes at or below its knock-in price, investors will receive a number of shares of the lowest-performing stock equal to $1,000 divided by the initial share price or, at the issuer's option, the cash value of those shares.
Credit Suisse Securities (USA) LLC is the agent.
| Issuer: | Credit Suisse AG, London Branch
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| Issue: | Contingent coupon autocallable notes
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| Underlying stocks: | PepsiCo, Inc. (Symbol: PEP), Nike, Inc. (Symbol: NKE), Gilead Sciences, Inc. (Symbol: GILD), Qualcomm Inc. (Symbol: QCOM) and Chevron Corp. (Symbol: CVX)
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| Amount: | $450,000
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| Maturity: | Dec. 6, 2017
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| Coupon: | 8% per year, payable quarterly if each stock closes at or above its respective coupon barrier price on the valuation date for that quarter
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| Price: | Par
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| Upper barrier event: | Occurs if final share price of at least one of the stocks is at or above its upper barrier price
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| Payout at maturity: | If upper barrier event occurs, par; if upper barrier event does not occur and final price of each stock is above its knock-in price, par; if upper barrier event does not occur and final price of any stock is equal to or below its knock-in price, a number of shares of the lowest-performing stock equal to $1,000 divided by the initial share price or, at the issuer's option, the cash value of those shares
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| Call: | At par plus the contingent coupon if each stock closes at or above its respective early redemption trigger price on any quarterly observation date other than the final valuation date
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| Initial share prices: | $84.46 for PepsiCo, $79.14 for Nike, $74.81 for Gilead Sciences, $73.58 for Qualcomm and $122.44 for Chevron
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| Coupon barrier prices: | 70% of initial prices
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| Early redemption trigger prices: | 97.5% of initial prices
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| Upper barrier prices: | 115% of initial prices
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| Knock-in prices: | 60% of initial prices
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| Pricing date: | Nov. 29
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| Settlement date: | Dec. 6
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| Agent: | Credit Suisse Securities (USA) LLC
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| Fees: | 5%
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| Cusip: | 22547QE77
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