By Susanna Moon
Chicago, July 13 – Credit Suisse AG, London Branch priced $3.22 million of contingent coupon autocallable yield notes due July 14, 2016 linked to Wynn Resorts, 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 11.25% if the stock closes at or above its coupon barrier level, 70% of its initial share price, on the determination date for that quarter.
The notes will be called at par if the stock closes at or above its initial level on any quarterly observation date.
The payout at maturity will be par unless the stock finishes below its knock-in level, 70% of its initial share price, in which case investors will be fully exposed to any losses.
Citigroup Global Markets Inc. is the placement agent.
| Issuer: | Credit Suisse AG, London Branch
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| Issue: | Contingent coupon autocallable yield notes
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| Underlying stocks: | Wynn Resorts, Ltd. (Symbol: WYNN)
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| Amount: | $3,215,000
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| Maturity: | July 14, 2016
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| Coupon: | 11.25%, payable quarterly if stock closes at or above its coupon barrier level on the determination date for that quarter
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| Price: | Par
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| Payout at maturity: | Par unless stock finishes below its knock-in level, in which case exposure to any losses
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| Call: | At par if stock closes at or above its initial level on any quarterly observation date
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| Initial level: | $105.20
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| Barrier level: | $73.64, 70% of initial price
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| Pricing date: | July 9
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| Settlement date: | July 14
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 1.5%
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| Cusip: | 22546VGS9
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