By Marisa Wong
Madison, Wis., Dec. 23 - Credit Suisse AG, Nassau Branch priced $820,000 of contingent coupon autocallable notes due Jan. 5, 2015 linked to a basket of common stocks, according to a 424B2 filing with the Securities and Exchange Commission.
The basket includes Alcoa Inc., American Express Co., Halliburton Co., Home Depot, Inc. and Pfizer Inc.
Interest is payable quarterly and will be 14% per year unless a knock-in event occurs, in which case there will be no interest paid for that quarter.
A knock-in event occurs if any stock closes below 50% of its initial share price on a quarterly observation date.
The payout at maturity will be par unless the final price of any basket stock is less than 50% of its initial price, in which case investors will receive a number of shares of the worst-performing stock equal to $1,000 divided by the initial share price.
If each stock closes at or above 90% of its initial price on a quarterly observation date, the notes will be called at par.
Credit Suisse Securities (USA) LLC is the underwriter.
| Issuer: | Credit Suisse AG, Nassau Branch
|
| Issue: | Contingent coupon autocallable notes
|
| Underlying stocks: | Alcoa Inc., American Express Co., Halliburton Co., Home Depot, Inc. and Pfizer Inc.
|
| Amount: | $820,000
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| Maturity: | Jan. 5, 2015
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| Coupon: | 14% unless any stock closes below 50% of its initial price on a quarterly observation date, in which case 0%; payable quarterly
|
| Price: | Par
|
| Payout at maturity: | If any stock finishes below 50% of its initial price, shares of worst-performing stock equal to $1,000 divided by initial share price; otherwise par
|
| Call: | Automatically at par if each stock closes at or above 90% of its initial price on a quarterly observation date
|
| Initial stock prices: | $14.89 for Alcoa Inc.; $43.23 for American Express Co.; $40.29 for Halliburton Co., $35.08 for Home Depot, Inc.; and $17.38 for Pfizer Inc.
|
| Knock-in prices: | $7.445 for Alcoa Inc.; $21.615 for American Express Co.; $20.145 for Halliburton Co., $17.54 for Home Depot, Inc.; and $8.69 for Pfizer Inc.
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| Pricing date: | Dec. 21
|
| Settlement date: | Jan. 6
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| Underwriter: | Credit Suisse Securities (USA) LLC
|
| Fees: | 1.5%
|
| Cusip: | 22546EM76
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