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Credit Suisse plans 12%-14% callable yield notes on metals, gold ETFs
By Toni Weeks
San Diego, April 29 - Credit Suisse AG, Nassau Branch plans to price 12% to 14% annualized callable yield notes due Nov. 21, 2011 linked to the SPDR S&P Metals & Mining exchange-traded fund and the Market Vectors Gold Miners exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
The exact coupon will be set at pricing. Interest is payable on July 19, Sept. 19 and the maturity date.
The notes are callable at par on any interest payment date beginning July 19, 2011.
The payout at maturity will be par unless either component falls to or below its knock-in level - 77.5% 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.
The notes (Cusip: 22546E6H2) are expected to price May 16 and settle May 19.
Credit Suisse Securities (USA) LLC is the agent.
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