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Credit Suisse plans high/low coupon callable notes on index, funds
By Marisa Wong
Madison, Wis., Jan. 13 - Credit Suisse AG, Nassau Branch plans to price high/low coupon callable yield notes due Jan. 23, 2013 linked to the Russell 2000 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.
A knock-in event occurs if any underlying component falls to or below 60% of its initial level during a quarterly observation period.
If a knock-in event never occurs, the coupon will be 17% to 19%. The exact rate will be set at pricing. If a knock-in event occurs during any quarterly observation period, the coupon for that and each subsequent interest period will be 1%. Interest is payable quarterly.
The notes are callable on any interest payment date.
If a knock-in event occurs, the payout at maturity will be par plus the return of the worst-performing component, up to a maximum payout of par. If a knock-in event does not occur, investors will receive par.
The notes (Cusip: 22546TKV2) will price on Jan. 18 and settle on Jan. 23.
Credit Suisse Securities (USA) LLC is the agent.
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