By Marisa Wong
Madison, Wis., Nov. 19 - Credit Suisse AG, London Branch priced $2.65 million of 9% autocallable reverse convertible notes due Nov. 20, 2014 linked to Celgene Corp. shares, according to a 424B2 filing with the Securities and Exchange Commission.
Interest will be payable monthly.
The notes will be called at par if the stock closes at or above the initial share price on any interest payment date.
The payout at maturity will be par unless Celgene shares fall and ever close below the 70% knock-in level during the life of the notes, in which case the payout will be $1,000 divided by the initial share price.
Credit Suisse Securities (USA) LLC is the agent.
Issuer: | Credit Suisse AG, London Branch
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Issue: | Autocallable reverse convertible securities
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Underlying stock: | Celgene Corp. (Symbol: CELG)
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Amount: | $2,646,000
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Maturity: | Nov. 20, 2014
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Coupon: | 9%, payable monthly
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Price: | Par
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Payout at maturity: | Par unless Celgene stock falls below knock-in price during life of notes and finishes below initial share price, in which case 6.6177 Celgene shares
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Call: | At par if closing share price on any quarterly observation date is at or above initial share price
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Initial share price: | $151.11
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Knock-in price: | $105.7770, 70% of initial share price
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Pricing date: | Nov. 15
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Settlement date: | Nov. 20
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Agent: | Credit Suisse Securities (USA) LLC
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Fees: | 1.5%
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Cusip: | 22547QDG8
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