By Toni Weeks
San Luis Obispo, Calif., March 19 - Credit Suisse AG, London Branch priced $778,000 of 10% autocallable reverse convertible securities due March 20, 2015 linked to Alexion Pharmaceuticals, Inc. shares, according to a 424B2 filing with the Securities and Exchange Commission.
Interest will be payable monthly.
The notes will be called at par if the stock closes at or above the initial share price on any quarterly call date.
The payout at maturity will be par unless Alexion stock closes at or below the knock-in price, 65% of the initial share price, during the life of the notes and finishes below the initial share price, in which case the payout will be a number of Alexion shares equal to $1,000 divided by the initial share price.
Credit Suisse Securities (USA) LLC is the agent.
| Issuer: | Credit Suisse AG, London Branch
|
| Issue: | Autocallable reverse convertible securities
|
| Underlying stock: | Alexion Pharmaceuticals, Inc. (Symbol: ALXN)
|
| Amount: | $778,000
|
| Maturity: | March 20, 2015
|
| Coupon: | 10%, payable monthly
|
| Price: | Par
|
| Payout at maturity: | Par unless Alexion stock falls below knock-in price during life of notes and finishes below initial share price, in which case 5.6183 Alexion shares
|
| Call: | At par if closing share price on any quarterly observation date is at or above initial share price
|
| Initial share price: | $177.99
|
| Knock-in price: | $115.6935, 65% of initial share price
|
| Pricing date: | March 17
|
| Settlement date: | March 20
|
| Agent: | Credit Suisse Securities (USA) LLC
|
| Fees: | 2.1%
|
| Cusip: | 22547QKG0
|
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