By Toni Weeks
San Diego, June 27 - Credit Suisse AG, Nassau Branch priced $7.56 million of 0% autocallable buffered return equity securities due June 30, 2014 linked to United States Steel Corp. shares, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be automatically called at par plus a 21.5% call return if the closing share price is greater than the initial share price on the June 26, 2013 review date.
If the notes are not called and the final share price is greater than or equal to the initial share price, the payout at maturity will be par plus the greater of the stock return and a 43% fixed payment percentage.
Investors will receive par if the share price declines by up to 20% and will lose 1% for every 1% that it declines beyond the buffer amount.
Credit Suisse Securities (USA) LLC is the agent.
| Issuer: | Credit Suisse AG, Nassau Branch
|
| Issue: | Autocallable buffered return equity securities
|
| Underlying stock: | United States Steel Corp. (NYSE: X)
|
| Amount: | $7,561,000
|
| Maturity: | June 30, 2014
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If stock gains, greater of stock return and 43%; par if share price declines by up to 20%; exposure to losses beyond 20% buffer
|
| Call: | At par plus 21.5% if closing share price greater than initial price on June 26, 2013
|
| Initial price: | $18.76
|
| Pricing date: | June 25
|
| Settlement date: | June 28
|
| Agent: | Credit Suisse Securities (USA) LLC
|
| Fees: | 2%
|
| Cusip: | 22546TVG3
|
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