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Credit Suisse plans high/low coupon callable yield notes tied to funds
By Susanna Moon
Chicago, Sept. 16 - Credit Suisse AG, Nassau Branch plans to price high/low coupon callable yield notes due Sept. 28, 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 fund closes at or below 60% of its initial level.
Interest is payable quarterly. The coupon will be 13% to 15% annualized unless a knock-in event occurs, in which case the coupon will be 3% annualized for that and each subsequent quarter.
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 lower-performing component, up to a maximum payout of par.
The notes are callable at par on any interest payment date beginning Dec. 30.
Credit Suisse Securities (USA) LLC is the underwriter.
The notes will price on Sept. 27 and settle on Sept. 30.
The Cusip number is 22546TEZ0.
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