By Susanna Moon
Chicago, Dec. 10 – Credit Suisse AG, London Branch priced $1.44 million of contingent coupon autocallable yield notes due Dec. 14, 2015 linked to Transocean Ltd. shares, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 13% if Transocean stock closes at or above the 50% coupon barrier level on the observation date for that quarter.
The notes will be called at par if the stock closes at or above the initial share price on any quarterly observation date.
If Transocean stock finishes at or above the 50% knock-in level, the payout at maturity will be par.
Otherwise, investors will be fully exposed to any losses.
Morgan Stanley & Co. LLC will be the distributor.
| Issuer: | Credit Suisse AG, London Branch
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| Issue: | Contingent coupon autocallable yield notes
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| Underlying stock: | Transocean Ltd. (Symbol: RIG)
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| Amount: | $1.44 million
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| Maturity: | Dec. 14, 2015
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| Coupon: | 13% per year, payable quarterly if Transocean shares close at or above coupon barrier on determination date for that quarter
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| Price: | Par
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| Payout at maturity: | If final share price is greater than or equal to knock-in level, par; otherwise, full exposure to losses
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| Call: | At par plus contingent coupon if Transocean shares close at or above initial share price on any quarterly observation date
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| Initial share price: | $18.68
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| Barrier level: | $9.34, 50% of initial share price
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| Pricing date: | Dec. 5
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| Settlement date: | Dec. 12
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| Agents: | Morgan Stanley & Co. LLC
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| Fees: | 3%
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| Cusip: | 22547QZ33
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