By Marisa Wong
Morgantown, W.Va., April 20 – Credit Suisse AG, London Branch priced $1.24 million of 0% contingent absolute return autocallable notes due Oct. 24, 2017 linked to the common stock of Canadian Pacific Railway Ltd., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be called at par of $10 plus an annualized call premium of 12% if the stock closes at or above the initial share price on any quarterly observation date.
If the notes are not called and the final share price is greater than or equal to the downside threshold price, 75% of the initial share price, the payout at maturity will be par plus the absolute value of the stock return. Otherwise, investors will be fully exposed to the stock’s decline.
UBS Financial Services Inc. is acting as distributor.
| Issuer: | Credit Suisse AG, London Branch
|
| Issue: | Contingent absolute return autocallable notes
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| Underlying stock: | Canadian Pacific Railway Ltd. (Symbol: CP)
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| Amount: | $1,235,000
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| Maturity: | Oct. 24, 2017
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| Coupon: | 0%
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| Price: | Par of $10.00
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| Payout at maturity: | If final share price is greater than or equal to downside threshold, par plus absolute value of stock return; otherwise, full exposure to stock’s decline
|
| Call: | At par plus 12% per year if stock closes at or above initial share price on any quarterly observation date
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| Initial share price: | $145.75
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| Downside threshold: | $109.31, 75% of initial share price
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| Pricing date: | April 18
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| Settlement date: | April 21
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| Distributor: | UBS Financial Services Inc.
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| Fees: | 1.5%
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| Cusip: | 22548R202
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