By Angela McDaniels
Tacoma, Wash., Feb. 25 - Credit Suisse AG, Nassau Branch priced $14.75 million of 9.05% annualized callable yield notes due Aug. 29, 2011 linked to the SPDR S&P Metals & Mining exchange-traded fund and the Market Vectors Gold Miners ETF, according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable monthly.
The payout at maturity will be par unless either component falls to or below its knock-in level - 70% 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.
Beginning April 29, the notes are callable at par on any interest payment date.
Credit Suisse Securities (USA) LLC is the agent.
Issuer: | Credit Suisse AG, Nassau Branch
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Issue: | Callable yield notes
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Underlying components: | SPDR S&P Metals & Mining ETF and Market Vectors Gold Miners ETF
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Amount: | $14.75 million
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Maturity: | Aug. 29, 2011
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Coupon: | 9.05%, payable monthly
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Price: | Par
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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
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Call option: | At par on any interest payment date from April 29 onward
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Initial levels: | $70.14 for metals ETF and $59.61 for gold ETF
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Knock-in levels: | $49.098 for metals ETF and $41.727 for gold ETF; 70% of initial levels
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Pricing date: | Feb. 23
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Settlement date: | Feb. 28
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Agent: | Credit Suisse Securities (USA) LLC
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Fees: | 1.75%
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Cusip: | 22546EW26
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