Published on 5/24/2011 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $1.57 million 8.5% callable yield notes on one index, two funds
By Toni Weeks
San Diego, May 24 - Credit Suisse AG, Nassau Branch priced $1.57 million of 8.5% callable yield notes due May 25, 2012 linked to the S&P 500 index, the United States Oil Fund, LP and the Market Vectors Gold Miners exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable quarterly.
The notes are callable at par on any interest payment date beginning Feb. 27, 2012.
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.
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: | S&P 500 index, U.S. Oil Fund, LP and Market Vectors Gold Miners ETF
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Amount: | $1,574,000
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Maturity: | May 25, 2012
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Coupon: | 8.5%, payable quarterly
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Price: | Par
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Payout at maturity: | Par, unless any component falls to or below 60% of its initial level during life of notes, in which case par plus return of worst-performing component, maximum of par
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Initial levels: | 1,333.27 for S&P 500, $39.47 for oil fund, $55.69 for gold fund
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Knock-in levels: | 799.962 for S&P 500, $23.682 for oil fund, $33.41 for gold fund, 60% of initial levels
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Call option: | At par on any interest payment date beginning Feb. 27, 2012
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Pricing date: | May 20
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Settlement date: | May 25
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Agent: | Credit Suisse Securities (USA) LLC
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Fees: | None
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Cusip: | 22546E7A6
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