By Jennifer Chiou
New York, Jan. 23 - Credit Suisse AG, London Branch priced $263,000 of 7% autocallable reverse convertible securities due Jan. 23, 2015 linked to SanDisk Corp. shares, according to a 424B2 filing with the Securities and Exchange Commission.
Interest will be payable monthly.
The notes will be called at par if the stock closes at or above the initial share price on any interest payment date.
The payout at maturity will be par unless SanDisk shares fall and ever close below the 70% knock-in level during the life of the notes, in which case the payout will be $1,000 divided by the initial share price.
Credit Suisse Securities (USA) LLC is the agent.
| Issuer: | Credit Suisse AG, London Branch
|
| Issue: | Autocallable reverse convertible securities
|
| Underlying stock: | SanDisk Corp. (Nasdaq: SNDK)
|
| Amount: | $263,000
|
| Maturity: | Jan. 23, 2015
|
| Coupon: | 7%, payable monthly
|
| Price: | Par
|
| Payout at maturity: | Par unless SanDisk stock falls below knock-in price during life of notes and finishes below initial share price, in which case 13.5704 SanDisk shares
|
| Call: | At par if closing share price on any quarterly observation date is at or above initial share price
|
| Initial share price: | $73.69
|
| Knock-in price: | $51.583, 70% of initial share price
|
| Pricing date: | Jan. 17
|
| Settlement date: | Jan. 23
|
| Agent: | Credit Suisse Securities (USA) LLC
|
| Fees: | 2.1%
|
| Cusip: | 22547QFU5
|
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