Credit Suisse to sell 14%-16% callable yield notes on Russell, S&P 500

By Susanna Moon

Chicago, June 30 - Credit Suisse, Nassau Branch plans to price callable yield notes due Feb. 5, 2010 linked to the S&P 500 index and Russell 2000 index, according to an FWP filing with the Securities and Exchange Commission.

The coupon will be 14% to 16%, payable quarterly, with the exact rate to be set at pricing.

The payout at maturity will be par unless either index falls to or below its knock-in level - 70% of its initial level - during the life of the notes, in which case investors will receive par plus the return of the worst-performing underlying index, capped at a maximum payout of par.

The notes will be callable at par plus accrued interest on any interest payment date.

The notes are expected to price on July 31 and settle on Aug. 5.

Credit Suisse Securities (USA) LLC will be the underwriter.

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