By Susanna Moon
Chicago, May 21 - Credit Suisse AG, Nassau Branch priced $1.08 million of 8% callable yield notes due May 22, 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.
Interest is payable quarterly.
The notes may be called at par plus accrued interest on any quarterly call date beginning in August.
A knock-in event will occur if either component falls below the 58.25% trigger level on any trading day during the life of the notes.
The payout at maturity will be par unless a knock-in event occurs, in which case investors will share in any losses of the worse performing fund.
Credit Suisse Securities (USA) LLC is the agent.
| Issuer: | Credit Suisse AG, Nassau Branch
|
| Issue: | Callable yield notes
|
| Underlying funds: | United States Oil Fund, LP and the Market Vectors Gold Miners ETF
|
| Amount: | $1,082,000
|
| Maturity: | May 22, 2014
|
| Coupon: | 8%, payable quarterly
|
| Price: | Par
|
| Payout at maturity: | Par unless either component ever closes below knock-in level, in which case full exposure to losses of worse performing fund
|
| Call: | At par plus accrued interest on any quarterly date beginning in August
|
| Initial levels: | $34.21 for oil fund, $26.38 for gold fund
|
| Knock-in level: | $19.9273 for oil fund, $15.3664 for gold fund; 58.25% of initial levels
|
| Pricing date: | May 17
|
| Settlement date: | May 22
|
| Agent: | Credit Suisse Securities (USA) LLC
|
| Fees: | None
|
| Cusip: | 22547Q2L9
|
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