By Jennifer Chiou
New York, June 21 - Credit Suisse AG, Nassau Branch priced an additional $2 million principal amount of 0% exchange-traded notes due Oct. 6, 2020 linked to the Credit Suisse Merger Arbitrage Liquid Index (Net) index, according to a 424B2 filing with the Securities and Exchange Commission.
The first tranche for $1 million of notes priced at 104.3 for proceeds of $1,043,000. The other $1 million priced at 104.45 for proceeds of $1,044,500.
The company plans to issue up to $1 billion of the notes. The principal amount of notes issued so far is $98.69 million.
The index uses a quantitative methodology to track a dynamic basket of securities held as long or short positions and cash. It is designed to capture the spread, if any, between the price at which the stock of a target company trades after a proposed acquisition of that company is announced and the price that the acquiring company has proposed to pay for the stock of the target company.
The notes are putable in increments of $1 million or more on any business day, and they may be called in whole beginning Oct. 1, 2012 if the principal amount outstanding is $10 million or less.
The payout at maturity or upon redemption will be par of $20 plus the index return minus a 0.55% annualized investor fee and minus an index calculation fee of 0.5% per year.
The notes are listed on NYSE Arca under the symbol "CSMA."
Credit Suisse Securities (USA) LLC is the agent.
Issuer: | Credit Suisse AG, Nassau Branch
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Issue: | Exchange-traded notes
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Underlying index: | Credit Suisse Merger Arbitrage Liquid Index (Net)
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Amount: | $98,686,400, increased from original $15 million
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Proceeds: | $90,899,791.47
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Maturity: | Oct. 6, 2020
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Coupon: | 0%
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Prices: | Par of $20 for $15 million; 104.3 for $1 million and 104.45 for $1 million in latest add-ons
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Payout at maturity: | Par plus index return minus 0.55% annualized investor fee minus index calculation fee of 0.5% per year
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Put option: | At any time, subject to a minimum of $1 million principal amount
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Call: | Beginning Oct. 1, 2012 if $10 million or less remains outstanding
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Pricing dates: | Oct. 1, 2010 for original issue; June 16 for $1 million; June 20 for $1 million
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Settlement dates: | Oct. 6, 2010 for original issue; June 21 for $1 million; June 23 for $1 million
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Agent: | Credit Suisse Securities (USA) LLC
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Fees: | None
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Listing: | NYSE Arca: CSMA
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Cusip: | 22542D845
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