Published on 12/5/2012 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse prices $2.38 million 8.5% callable yield notes on Russell 2000, funds
By Jennifer Chiou
New York, Dec. 5 - Credit Suisse AG, Nassau Branch priced $2,377,000 of 8.5% callable yield notes due Feb. 5, 2014 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.
Interest is payable monthly.
The notes are callable at par on any interest payment date beginning on May 6, 2013.
The payout at maturity will be par unless either component falls by 40% or more of its initial level on any day 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: Russell 2000 index, Market Vectors Gold Miners ETF and United States Oil Fund, LP
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Amount: | $2,377,000
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Maturity: | Feb. 5, 2014
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Coupon: | 8.5%, payable monthly
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Price: | Par
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Payout at maturity: | Par unless either component falls to or below knock-in level during life of notes, in which case par plus return of worst-performing component, maximum payout of par
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Initial levels: | 823.20 for Russell, $48.04 for gold fund, $32.17 for oil fund
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Knock-in levels: | 493.92 for Russell, $28.824 for gold fund, $19.302 for oil fund, 60% of initial levels
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Call option: | At par on any interest payment date beginning on May 6, 2013
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Pricing date: | Nov. 29
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Settlement date: | Dec. 4
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Agent: | Credit Suisse Securities (USA) LLC
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Fees: | 2.25%
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Cusip: | 22546TJ77
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