By Jennifer Chiou
New York, Feb. 20 - Credit Suisse AG, London Branch priced $4,778,000 of 11% autocallable reverse convertible notes due Feb. 20, 2015 linked to the common stock of Iron Mountain Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable monthly.
The notes will be called at par if Iron Mountain shares close at or above the initial share price on any quarterly observation date beginning on May 15, 2014.
The payout at maturity will be par unless Iron Mountain shares close at or below the knock-in price, 65% of the initial share price, during the life of the notes and finish below the initial share price, in which case the payout will be a number of Iron Mountain 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: | Iron Mountain Inc. (Symbol: IRM)
|
| Amount: | $4,778,000
|
| Maturity: | Feb. 20, 2015
|
| Coupon: | 11%, payable monthly
|
| Price: | Par
|
| Payout at maturity: | Par unless Iron Mountain stock closes at or below knock-in price during life of notes and finishes below initial share price, in which case 35.7015 Iron Mountain shares
|
| Call: | At par if Iron Mountain shares close at or above initial share price on any quarterly observation date beginning on May 15, 2014
|
| Initial share price: | $28.01
|
| Knock-in price: | $18.2065, 65% of initial share price
|
| Pricing date: | Feb. 14
|
| Settlement date: | Feb. 20
|
| Agent: | Credit Suisse Securities (USA) LLC
|
| Fees: | 2.1%
|
| Cusip: | 22547QHL3
|
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