By Susanna Moon
Chicago, Oct. 18 - Credit Suisse AG, Nassau Branch priced $45.96 million of 2% equity-linked notes due Oct. 22, 2014 linked to Occidental Petroleum Corp. shares, according to an FWP filing with the Securities and Exchange Commission.
There is an over-allotment option for an additional $5.96 million of notes.
Interest is payable monthly.
Each note has a face amount of $97.30, which is equal to the initial price of Occidental Petroleum stock.
If shares finish at or below lower put strike price - 85% of initial share price - the payout at maturity will be 92.5926% of lower put strike price.
If the shares finish above lower put strike price but below upper put strike price - 108% of initial share price - the payout will be 92.5926% of return.
If the shares finish at or above upper put strike price but below call strike price - 113.1% of initial share price - the payout will be par.
Otherwise, the payout will be par plus 0.65% for every 1% that the final share price exceeds the call strike price.
The issuer may opt to pay out in cash or Occidental Petroleum stock.
Credit Suisse Securities (USA) LLC is the agent.
| Issuer: | Credit Suisse AG, Nassau Branch
|
| Issue: | Equity-linked notes
|
| Underlying stock: | Occidental Petroleum Corp. (Symbol: OXY)
|
| Amount: | $45,959,655
|
| Greenshoe: | $5,959,625
|
| Maturity: | Oct. 22, 2014
|
| Coupon: | 2%, payable monthly
|
| Price: | Par of $97.30
|
| Payout at maturity: | If shares finish at or below lower put strike price, 92.5926% of lower put strike price; if shares finish above lower put strike price but below upper put strike price, 92.5926% of return; if shares finish at or above upper put strike price but below call strike price, par; if shares finish at or above call strike price, 65% of return
|
| Initial share price: | $97.30
|
| Lower put strike price: | $82.705, 85% of initial share price
|
| Upper put strike price: | $105.084, 108% of initial share price
|
| Call strike price: | $110.046, 113.1% of initial share price
|
| Pricing date: | Oct. 17
|
| Settlement date: | Oct. 22
|
| Agent: | Credit Suisse Securities (USA) LLC
|
| Cusip: | 22539T555
|
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