By Angela McDaniels
Tacoma, Wash., Sept. 20 - Credit Suisse AG, Nassau Branch priced $349,000 of 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 occurs if either ETF closes at or below 60% of its initial share price.
The coupon will be 13.25% unless a knock-in event occurs, in which case the coupon for that and each subsequent interest period will be 3%. Interest is payable quarterly.
The payout at maturity will be par unless a knock-in event occurs, 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.
Credit Suisse Securities (USA) LLC is the agent.
| Issuer: | Credit Suisse AG, Nassau Branch
|
| Issue: | High/low coupon callable yield notes
|
| Underlying ETFs: | United States Oil Fund, LP and Market Vectors Gold Miners ETF
|
| Amount: | $349,000
|
| Maturity: | Sept. 21, 2012
|
| Coupon: | 13.25% per year unless either underlying component closes at or below its knock-in level, in which case coupon will be 3% from then on; payable quarterly
|
| Price: | Par
|
| Payout at maturity: | If either ETF closes at 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
|
| Call option: | At par on any interest payment date
|
| Initial share prices: | $34.14 for oil ETF and $64.11 for gold ETF
|
| Knock-in levels: | $20.484 for oil ETF and $38.466 for gold ETF; 60% of initial share prices
|
| Pricing date: | Sept. 16
|
| Settlement date: | Sept. 21
|
| Agent: | Credit Suisse Securities (USA) LLC
|
| Fees: | 2.25%
|
| Cusip: | 22546TEF4
|
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