By Angela McDaniels
Tacoma, Wash., July 17 – Credit Suisse AG, London Branch priced $20.79 million of 8% STEP Income Securities due July 31, 2015 linked to the common stock of Amazon.com, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable quarterly.
If the final price of Amazon.com stock is greater than or equal to the step level, 108% of the initial share price, the payout at maturity will be par of $10 plus the step payment of 2.82%.
If the final share price is greater than or equal to the initial share price but less than the step level, investors will receive par.
If the final share price is less than the initial share price, investors will be fully exposed to the decline.
BofA Merrill Lynch is the agent.
| Issuer: | Credit Suisse AG, London Branch
|
| Issue: | STEP Income Securities
|
| Underlying stock: | Amazon.com, Inc. (Nasdaq: AMZN)
|
| Amount: | $20,786,620
|
| Maturity: | July 31, 2015
|
| Coupon: | 8%, payable quarterly
|
| Price: | Par of $10.00
|
| Payout at maturity: | If final price of Amazon.com stock is greater than or equal to step level, par plus 2.82%; if final share price is greater than or equal to initial share price but less than step level, par; 1% loss for every 1% that final share price is less than initial share price
|
| Initial share price: | $353.23
|
| Step level: | $381.49, 108% of initial share price
|
| Pricing date: | July 15
|
| Settlement date: | July 18
|
| Agent: | BofA Merrill Lynch
|
| Fees: | 1.75%
|
| Cusip: | 22545F367
|
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