By Susanna Moon
Chicago, May 24 - Credit Suisse AG, Nassau Branch priced $3.47 million of autocallable buffered return equity securities due May 28, 2014 tied to Apple Inc. shares, according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable quarterly.
If the stock closes above its initial share price on May 24, 2013, the notes will be called at par plus a premium of 10%.
If the notes are not called and Apple shares finish at or above the initial level, the payout at maturity will be par the greater of 20% and the stock gain.
Investors will receive par if the stock falls by up to 20% and will be exposed to any losses beyond 20%.
Credit Suisse Securities (USA) LLC is the underwriter.
| Issuer: | Credit Suisse AG, Nassau Branch
|
| Issue: | Autocallable buffered return equity securities
|
| Underlying stock: | Apple Inc. (Nasdaq: AAPL)
|
| Amount: | $3,467,000
|
| Maturity: | May 28, 2014
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If stock gains, par plus return floor of 20%; par if stock falls by 20% or less; exposure to losses beyond 20%
|
| Initial price: | $556.97
|
| Trigger level: | 80% of initial price
|
| Call: | At par plus 10% if stock closes above initial price on May 24, 2013
|
| Pricing date: | May 22
|
| Settlement date: | May 25
|
| Underwriter: | Credit Suisse Securities (USA) LLC
|
| Fees: | 2%
|
| Cusip: | 22546TTR2
|
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