By Angela McDaniels
Tacoma, Wash., Jan. 13 - Credit Suisse AG, London Branch priced $1 million of contingent coupon autocallable yield notes due Jan. 15, 2015 linked to the class A common stock of GNC Holdings, Inc. and the common stock of Vitamin Shoppe, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes will pay a coupon at the rate of 13.8% per year if each stock closes at or above its barrier price, 65% of its initial price, on the observation date for that quarter.
If the closing share price of each stock is greater than or equal to its initial share price on any quarterly observation date, the notes will be automatically redeemed at par plus the contingent coupon.
If the notes are not called and the final share price of each stock is greater than or equal to its barrier price, the payout at maturity will be par plus the contingent coupon. Otherwise, investors will lose 1% for each 1% that the lowest-performing stock's final share price is less than its initial share price.
J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA are the agents.
| Issuer: | Credit Suisse AG, London Branch
|
| Issue: | Contingent coupon autocallable yield notes
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| Underlying stocks: | GNC Holdings, Inc. (Symbol: GNC) and Vitamin Shoppe, Inc. (Symbol: VSI)
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| Amount: | $1 million
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| Maturity: | Jan. 15, 2015
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| Contingent payment: | 13.8% per year, payable quarterly if each stock closes at or above barrier level on observation date for that quarter
|
| Price: | Par
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| Payout at maturity: | If final share price of each stock is greater than or equal to barrier level, par plus contingent payment; otherwise, full exposure to decline of lowest-performing stock price from initial price
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| Call: | Automatically at par plus contingent payment if closing share price of each stock is greater than or equal to initial share price on any quarterly observation date
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| Initial share price: | $56.15 for GNC and $49.05 for Vitamin Shoppe
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| Barrier level: | $36.4975 for GNC and $31.8825 for Vitamin Shoppe, 65% of initial share prices
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| Pricing date: | Jan. 10
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| Settlement date: | Jan. 15
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| Agents: | J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA
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| Fees: | 1%
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| Cusip: | 22547QG26
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