Published on 7/28/2011 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse prices $641,000 8.7% callable yield notes linked to Russell, two funds
By Susanna Moon
Chicago, July 28 - Credit Suisse AG, Nassau Branch priced $641,000 of 8.7% callable yield notes due Aug. 2, 2012 linked to the Russell 2000 index, 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 any component falls to or below its knock-in level - 60% 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 are callable at par on any interest payment date after three months.
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: | Russell 2000 index, SPDR S&P Metals & Mining ETF and Market Vectors Gold Miners ETF
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Amount: | $641,000
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Maturity: | Aug. 2, 2012
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Coupon: | 8.7%, payable monthly
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Price: | Par
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Payout at maturity: | If any component falls to or below its knock-in level during the life of the notes, par plus the return of the worst-performing component, capped at par; otherwise, par
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Call option: | At par on any interest payment date beginning Oct. 31
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Initial levels: | 824.83 for Russell, $69.80 for metals fund, $60.31 for gold fund
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Knock-in levels: | 494.8980 for Russell, $41.88 for metals fund, $36.186 for gold fund; 60% of initial levels
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Pricing date: | July 26
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Settlement date: | July 29
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Agent: | Credit Suisse Securities (USA) LLC
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Fees: | 2.25%
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Cusip: | 22546TCE9
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