New Issue: Credit Suisse prices $320,000 7.5% callable yield notes on iShares Silver, MSCI Australia

By Jennifer Chiou

New York, Nov. 2 - Credit Suisse AG, Nassau Branch priced $320,000 of 7.5% callable yield notes due Nov. 3, 2011 linked to the iShares Silver trust and the iShares MSCI Australia index fund, according to a 424B2 with the Securities and Exchange Commission.

Interest will be payable quarterly.

The payout at maturity will be par unless either exchange-traded fund falls to or below its knock-in level - 60% of its initial level - during the life of the notes, in which case investors will receive par plus the return of the worst-performing ETF, capped at a maximum payout of par.

The notes will be callable at par on any interest payment date from May 3, 2011 onward.

Credit Suisse Securities (USA) LLC is the underwriter.

Issuer:	Credit Suisse AG, Nassau Branch
Issue:	Callable yield notes
Underlying components:	iShares Silver trust and iShares MSCI Australia index fund
Amount:	$320,000
Maturity:	Nov. 3, 2011
Coupon:	7.5%; payable quarterly
Price:	Par
Payout at maturity:	If either underlying component closes at or below its knock-in level during life of the notes, par plus return of lower-performing underlying, up to maximum payout of par; otherwise, par
Call option:	At par on any interest payment date from May 3, 2011 onward
Initial levels:	$24.17 for Silver and $24.47 for Australia
Knock-in levels:	$14.502 for Silver and $14.682 for Australia; 60% of initial levels
Pricing date:	Oct. 29
Settlement date:	Nov. 3
Underwriter:	Credit Suisse Securities (USA) LLC
Fees:	None
Cusip:	22546EC51

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