Credit Suisse plans contingent coupon callable notes on five stocks

By Susanna Moon

Chicago, Dec. 17 - Credit Suisse AG, Nassau Branch plans to price contingent coupon autocallable notes due Jan. 5, 2015 based on the common stock of five companies, according to a 424B2 filing with the Securities and Exchange Commission.

The underlying companies are Alcoa Inc., American Express Co., Pfizer Inc., Halliburton Co. and Home Depot, Inc.

A knock-in event will occur if any of the underlying stocks closes at or below 50% of its initial level.

The coupon is expected to be 14% unless a knock-in event occurs, in which case no interest will be paid for that quarterly observation period. Interest is payable quarterly.

If each of the stocks close at or above 90% of its initial level on any quarterly observation date, the notes will be called at par.

The payout at maturity will be par unless a knock-in event has occurred, in which case the payout will be par plus the return of the worst performing underlying stock, up to a maximum payout of par.

The notes are callable at par on any interest payment date beginning June 27, 2011.

The notes are expected to price on Dec. 21 and settle on Dec. 27.

Credit Suisse Securities (USA) LLC is the underwriter.

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