By Jennifer Chiou
New York, Jan. 7 - Credit Suisse AG, London Branch priced $2,519,000 of contingent coupon callable yield notes due Jan. 8, 2016 linked to Apple Inc. shares, according to a 424B2 filing with the Securities and Exchange Commission.
If the stock closes at or above its barrier level, 70% of its initial level, on a quarterly observation date, the notes will pay a coupon at an annualized rate of 8.5% for that quarter.
The payout at maturity will be par unless Apple stock finishes below its barrier level, in which case investors will be fully exposed to any losses.
The notes are callable at par on any interest payment date beginning on April 8.
Barclays is the placement agent.
| Issuer: | Credit Suisse AG, London Branch
|
| Issue: | Contingent coupon callable yield notes
|
| Underlying stock: | Apple Inc. (Nasdaq: AAPL)
|
| Amount: | $2,519,000
|
| Maturity: | Jan. 8, 2016
|
| Coupon: | 8.5% per year if stock closes at or above barrier level on any quarterly observation date; payable quarterly
|
| Price: | Par
|
| Payout at maturity: | Par unless final share price finishes below barrier level, in which case par plus stock return
|
| Call option: | At par on any interest payment date beginning on April 8
|
| Initial share price: | $540.98
|
| Barrier level: | $378.686, 70% of initial share price
|
| Pricing date: | Jan. 3
|
| Settlement date: | Jan. 8
|
| Placement agent: | Barclays
|
| Fees: | 1.75%
|
| Cusip: | 22547QFQ4
|
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