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Credit Suisse plans one-year high/low coupon callable yield notes linked to oil, gold funds
By Susanna Moon
Chicago, Aug. 26 - Credit Suisse AG, Nassau Branch plans to price high/low coupon callable yield notes due Sept. 21, 2012 linked to 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.
A knock-in event will occur if either underlying component closes at or below 60% of its initial level during any observation period.
The coupon will be 13% to 15% unless a knock-in event occurs, in which case the coupon will be 3% for that and each subsequent quarter. Interest is payable quarterly.
The notes are callable on any interest date after three months.
The payout at maturity will be par unless a knock-in event has occurred, in which case the payout will be par plus the return of the lowest-performing component, up to a maximum payout of par.
Credit Suisse Securities (USA) LLC is the underwriter.
The notes will price on Sept. 16 and settle on Sept. 21.
The Cusip is 22546TEF4.
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