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Credit Suisse plans 6.5%-8.5% airbag autocallables linked to WhiteWave
By Angela McDaniels
Tacoma, Wash., April 12 – Credit Suisse AG, London Branch plans to price airbag autocallable yield notes due April 21, 2017 linked to the common stock of WhiteWave Foods Co., according to a 424B2 filing with the Securities and Exchange Commission.
The interest rate is expected to be 6.5% to 8.5% and will be set at pricing. Interest will be payable monthly.
The notes will be called automatically at par if WhiteWave Foods shares close at or above the initial share price on any quarterly observation date.
The payout at maturity will be par unless the final share price is less than the conversion price, in which case the payout will be a number of WhiteWave Foods shares equal to $1,000 divided by the conversion price. The conversion price will be 85% of the initial share price.
UBS Financial Services Inc. is acting as distributor.
The notes will price April 15.
The Cusip number is 22548R194.
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