Published on 7/6/2010 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse upsizes 20.7% callable yield notes linked to two funds to $1.15 million
By Angela McDaniels
Tacoma, Wash., July 6 - Credit Suisse AG, Nassau Branch increased its 20.7% annualized callable yield notes due Jan. 7, 2011 linked to the Market Vectors Gold Miners exchange-traded fund and the Energy Select Sector SPDR fund to $1.15 million from $1.12 million, according to an FWP filing with the Securities and Exchange Commission.
Interest is payable quarterly.
The notes are callable at par on any interest payment date.
The payout at maturity will be par unless either underlying fund 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 fund, up to a maximum payout of par.
Credit Suisse Securities (USA) LLC is the underwriter.
| Issuer: | Credit Suisse AG, Nassau Branch
|
| Issue: | Callable yield notes
|
| Underlying funds: | Market Vectors Gold Miners ETF and Energy Select Sector SPDR fund
|
| Amount: | $1.15 million, upsized from $1,115,000
|
| Maturity: | Jan. 7, 2011
|
| Coupon: | 20.7%, payable quarterly
|
| Price: | Par
|
| Payout at maturity: | If either underlying fund falls to or below its knock-in level during the life of the notes, par plus the return of the worst-performing fund, capped at par; otherwise, par
|
| Call option: | At par on interest payment dates
|
| Initial prices: | $49.58 for Market Vectors Gold and $49.38 for Energy Select
|
| Knock-in levels: | $34.706 for Market Vectors Gold and $34.566 for Energy Select; 70% of initial levels
|
| Pricing dates: | July 2 for $1,115,000; July 6 for $35,000
|
| Settlement date: | July 8
|
| Underwriter: | Credit Suisse Securities (USA) LLC
|
| Fees: | 1.25%
|
| Cusip: | 22546EWF7
|
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