By Angela McDaniels
Tacoma, Wash., May 15 - Credit Suisse AG, Nassau Branch priced $31.05 million of 8% equity-linked notes due May 21, 2014 linked to the common stock of priceline.com, Inc., according to an FWP filing with the Securities and Exchange Commission.
There is an over-allotment option for an additional $4.05 million of notes.
Interest is payable monthly.
Each note has a face amount of $802.50, which is equal to the initial price of priceline.com stock.
If the final share price is less than 109.5% of the initial share price, the payout at maturity will be 91.3242% of the final share price, subject to a minimum of $586.30 per note.
If the final share price is greater than or equal to 109.5% of the initial share price and less than 115% of the initial share price, the payout will be par.
Otherwise, the payout will be par plus 0.65% for every 1% that the final share price exceeds 115% of the initial share price.
At its option, the issuer can make the payout in cash or priceline.com stock.
Credit Suisse Securities (USA) LLC is the agent.
| Issuer: | Credit Suisse AG, Nassau Branch
|
| Issue: | Equity-linked notes
|
| Underlying stock: | priceline.com,Inc. (Nasdaq: PCLN)
|
| Amount: | $31,048,725.00
|
| Greenshoe: | $4,048,612.50
|
| Maturity: | May 21, 2014
|
| Coupon: | 8%, payable monthly
|
| Price: | Par of $802.50
|
| Payout at maturity: | If final share price is less than upper put strike price, 91.3242% of final share price, subject to minimum payout of $586.30 per note; if final share price is greater than or equal to upper put strike price and less than call strike price, par; otherwise, par plus 65% of amount by which final share price exceeds call strike price; payable in cash or priceline.com stock
|
| Initial share price: | $802.50
|
| Upper put strike price: | $878.74, 109.5% of initial share price
|
| Call strike price: | $922.88, 115% of initial share price
|
| Pricing date: | May 15
|
| Settlement date: | May 22
|
| Agent: | Credit Suisse Securities (USA) LLC
|
| Fees: | None
|
| Cusip: | 22539T696
|
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