By Toni Weeks
San Luis Obispo, Calif., April 10 - Credit Suisse AG, London Branch priced $3.2 million of contingent coupon callable yield notes due April 11, 2016 linked to the common stock of lululemon athletica inc., according to a 424B2 filing with the Securities and Exchange Commission.
Barclays is the agent.
Each quarter, the notes will pay interest at an annual rate of 14.5% if lululemon stock closes at or above the barrier price, 70% of the initial share price, on the observation date for that quarter.
If the final share price is greater than or equal to the barrier level, the payout at maturity will be par. Otherwise, investors will lose 1% for every 1% that the final share price is less than the initial share price.
The notes will be callable at par plus the contingent coupon on any interest payment date.
| Issuer: | Credit Suisse AG, London Branch
|
| Issue: | Contingent coupon callable yield notes
|
| Underlying stock: | lululemon athletica inc. (Symbol: LULU)
|
| Amount: | $3.2 million
|
| Maturity: | April 11, 2016
|
| Coupon: | 14.5%, payable quarterly if lululemon shares close at or above barrier price on valuation date for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par if final share price is greater than or equal to barrier price; otherwise, exposure to any losses
|
| Call option: | At par plus contingent coupon on any interest payment date beginning July 11
|
| Initial share price: | $53.16
|
| Barrier price: | $37.212, 70% of initial share price
|
| Pricing date: | April 8
|
| Settlement date: | April 11
|
| Agent: | Barclays
|
| Fees: | 1.5%
|
| Cusip: | 22547QLY0
|
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