By Jennifer Chiou
New York, Oct. 1 – Credit Suisse AG, London Branch priced $2.5 million of contingent coupon autocallable yield notes due Sept. 30, 2016 linked to Google Inc., Caterpillar Inc. and Bank of America Corp., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 11.05% if each stock closes at or above its respective coupon barrier price, 75% 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 initial level on any quarterly observation date other than the final valuation date.
If the notes are not called and the final share price of each stock is greater than or equal to its barrier price, the payout at maturity will be par plus the contingent coupon. Otherwise, investors will lose 1% for each 1% that the lowest-performing stock’s final share price is less than its initial share price.
Credit Suisse Securities (USA) LLC is the agent.
| Issuer: | Credit Suisse AG, London Branch
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| Issue: | Contingent coupon autocallable yield notes
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| Underlying stocks: | Google Inc. (Symbol: GOOG), Caterpillar Inc. (Symbol: CAT) and Bank of America Corp. (Symbol: BAC)
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| Amount: | $2.5 million
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| Maturity: | Sept. 30, 2016
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| Coupon: | 11.05% 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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| Payout at maturity: | Par plus the contingent coupon final share price of each stock is greater than or equal to its barrier price; otherwise, exposure to losses of lowest-performing stock
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| Call: | At par plus the contingent coupon if each stock closes at or above its respective initial level on any quarterly observation date other than the final valuation date
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| Initial share prices: | $587.99 for Google, $101.20 for Caterpillar, $17.18 for Bank of America
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| Coupon barrier/knock-in prices: | $440.99 for Google, $75.90 for Caterpillar, $12.89 for Bank of America, 75% of initial prices
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| Pricing date: | Sept. 25
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| Settlement date: | Sept. 30
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| Agent: | Credit Suisse Securities (USA) LLC
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| Fees: | 3.1%
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| Cusip: | 22547QU87
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