By Marisa Wong
Madison, Wis., July 26 - Credit Suisse AG, Nassau Branch priced $1.6 million of 0% capped knock-out notes due Aug. 8, 2012 linked to the common stock of Google Inc., according to a 424B2 filing with the Securities and Exchange Commission.
A knock-out event occurs if the closing share price falls by more than 25% from the initial price during the life of the notes.
If a knock-out event does not occur, the payout at maturity is par plus any gain in the stock, subject to a contingent minimum return of 2.75%.
If a knock-out event occurs, the payout at maturity will be par plus the stock return, with full exposure to losses.
In either case, the maximum return will be capped at 20%.
J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA are agents.
| Issuer: | Credit Suisse AG, Nassau Branch
|
| Issue: | Capped knock-out notes
|
| Underlying stock: | Google Inc. (Nasdaq: GOOG)
|
| Amount: | $1.6 million
|
| Maturity: | Aug. 8, 2012
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If closing share price never falls below 75% of initial price, par plus stock return, with minimum return of 2.75%; if price falls by more than 25% during life of notes, par plus stock return with exposure to losses; maximum return of 20% in both cases
|
| Initial price: | $618.23
|
| Pricing date: | July 22
|
| Settlement date: | July 29
|
| Agents: | J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA
|
| Fees: | None
|
| Cusip: | 22546TCD1
|
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