I created that yesterday, that wasn't a very serious item but ok, let me explain myself:
1.
http://www.d20pfsrd.com/magic-items#TOC-Magic-Item-Creation
Other Considerations: Once you have a cost figure, reduce that number if either of the following conditions applies:
Item Requires Specific Class or Alignment to Use: Even more restrictive than requiring a skill, this limitation cuts the price by 30%.
2.
Ok, my bad, I misunderstood the thassilonian rune part in:
http://www.d20pfsrd.com/magic-items#TOC-Magic-Item-Creation
where it says "Creating a rune costs half the market value listed"
let me explain my chain of thoughts:
if you take an item which costs 2k, you can make the same item in a rune for 1k, all runes are non-slotted so non-slotted its included in rune price when it says so.
Its still wrong
3.
forget about the thassilonian part, lets say its a non-sloted wondrous item (earring)
shield bonus +1 2500gp (100%)
insight bonus + 1 2500gp (75%)
natural armor bonus +1 2000gp (50%)
deflection bonus +1 2000gp (50%)
--------------
6375 x2 non-slotted x0.7 specific aligment/class.
--------------
Final: 8925
BTW: its not a +4 AC, its a +1,+1,+1,+1. You all should know the big diference.
now it doesnt differ much of having a shield bracelet +1, natural armor necklace +1, ring of protection +1 and ring of insight +1 to AC.
(75gp cheaper)