Credit Suisse plans high/low coupon callable notes on oil, gold funds

By Jennifer Chiou

New York, Nov. 21 - Credit Suisse AG plans to price high/low coupon callable yield notes due Dec. 26, 2014 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 underlying component closes at or below its knock-in level, 60% of its initial level, during the life of the notes.

The coupon will be 9% to 10% unless a knock-in event occurs, in which case it will be 1% annualized for that and each subsequent interest period. Interest is payable quarterly, with the exact rate to be set at pricing.

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 fund, up to a maximum payout of par.

The notes are callable at par on any interest payment date beginning on March 26.

The notes (Cusip: 22547QDT0) will price on Dec. 20 and settle on Dec. 26.

Credit Suisse Securities (USA) LLC is the underwriter.

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