Published on 2/4/2011 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $100,000 more 9% callable yield notes on SPDR metals, Russell
By Marisa Wong
Madison, Wis., Feb. 4 - Credit Suisse AG, Nassau Branch priced an additional $100,000 of
9% annualized callable yield notes due Jan. 31, 2012 based on the SPDR S&P Metals & Mining exchange-traded fund and the Russell 2000 index, according to a 424B8 filing with the Securities and Exchange Commission.
This brings the total deal size to $632,000. An initial $532,000 of the notes priced at par on Jan. 26. The add-on also priced at par.
Interest is payable quarterly.
The notes are callable at par on any interest payment date.
The payout at maturity will be par unless either component falls to or below its knock-in level - 72.5% of its initial level - during the life of the notes, in which case investors will receive par plus the return of the worst performing component, up to a maximum payout of par.
Credit Suisse Securities (USA) LLC is the agent.
Issuer: | Credit Suisse AG, Nassau Branch
|
Issue: | Callable yield notes
|
Underlying components: | SPDR S&P Metals & Mining exchange-traded fund and the Russell 2000 index
|
Amount: | $632,000, up from $532,000
|
Maturity: | Jan. 31, 2012
|
Coupon: | 9%, payable quarterly
|
Price: | Par
|
Payout at maturity: | If either component falls to or below its knock-in level during the life of the notes, par plus the return of the worst performing component, up to a maximum payout of par; otherwise, par
|
Call option: | At par on any interest payment date
|
Initial levels: | $69.68 for SPDR Metals; 793.72 for Russell
|
Knock-in levels: | $50.518 for SPDR Metals; 575.447 for Russell; 72.5% of initial levels
|
Pricing date: | Jan. 26 for $532,000; Feb. 4 for $100,000
|
Settlement date: | Jan. 31 for $532,000; Feb. 7 for $100,000
|
Agent: | Credit Suisse Securities (USA) LLC
|
Fees: | 2%
|
Cusip: | 22546EN42
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.