By Tali Rackner
Norfolk, Va., April 20 – Credit Suisse AG, London Branch priced $705,000 of contingent coupon autocallable yield notes due April 21, 2017 linked to the common stock of Intrexon Corp., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent monthly coupon at an annual rate of 24% if the stock closes above its coupon barrier level, 50% of its initial price, on the observation date for that month.
The payout at maturity will be par unless the stock finishes below its 50% knock-in level, in which case investors will be fully exposed to any losses.
The notes will be callable at par if the stock closes above its initial price on any interest payment date after July 18.
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 stock: | Intrexon Corp. (Symbol: XON)
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| Amount: | $705,000
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| Maturity: | April 21, 2017
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| Contingent coupon: | 24% per year, payable each month if Intrexon closes above its coupon barrier level on the observation date for that month
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| Price: | Par of $1,000
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| Payout at maturity: | Par unless Intrexon finishes at or below knock-in level, in which case full exposure to any losses
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| Call option: | At par if Intrexon closes at or above the initial level on any interest payment date after July 18
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| Initial level: | $37.96
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| Barrier/knock-in level: | $18.98, 50% of initial level
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| Pricing date: | April 18
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| Settlement date: | April 21
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| Agent: | Credit Suisse Securities (USA) LLC
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| Fees: | 2.875%
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| Cusip: | 22548Q4F9
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