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Credit Suisse plans high/low coupon callable notes on index, two funds
By Toni Weeks
San Diego, April 20 - Credit Suisse AG, Nassau Branch plans to price high/low coupon callable yield notes due May 9, 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 monthly observation period.
If a knock-in event never occurs, the coupon will be 13.15% to 15.15%, with the exact coupon to be set at pricing. If a knock-in event occurs during any monthly observation period, the coupon for that interest period and each subsequent interest period will be 1%. Interest is payable monthly.
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: 22546TRL7) are expected to price May 4 and settle May 9.
Credit Suisse Securities (USA) LLC is the agent.
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