New Issue: Credit Suisse prices $237,000 10.5% callable yield notes linked to Russell 2000, mining ETF

By Angela McDaniels

Tacoma, Wash., Feb. 25 - Credit Suisse AG, Nassau Branch priced $237,000 of 10.5% callable yield notes due Feb. 28, 2012 linked to the Russell 2000 index and the SPDR S&P Metals & Mining exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.

Interest is payable quarterly.

The payout at maturity will be par unless either component 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 component, up to a maximum payout of par.

Beginning Aug. 28, 2011, the notes are callable at par on any interest payment date.

Credit Suisse Securities (USA) LLC is the agent.

Issuer:	Credit Suisse AG, Nassau Branch
Issue:	Callable yield notes
Underlying components:	Russell 2000 index and SPDR S&P Metals & Mining exchange-traded fund
Amount:	$237,000
Maturity:	Feb. 28, 2012
Coupon:	10.5%, payable quarterly
Price:	Par
Payout at maturity:	If either component falls to or below its knock-in level during the life of the notes, par plus the return of the worst-performing component, up to a maximum payout of par; otherwise, par
Call option:	At par on any interest payment date from Aug. 28, 2011 onward
Initial levels:	799.64 for index and $70.14 for ETF
Knock-in levels:	559.748 for index and $49.098 for ETF; 70% of initial levels
Pricing date:	Feb. 23
Settlement date:	Feb. 28
Agent:	Credit Suisse Securities (USA) LLC
Fees:	None
Cusip:	22546EU51

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