By Angela McDaniels
Tacoma, Wash., Aug. 3 - Credit Suisse AG, Nassau Branch priced $3 million of callable yield notes due Feb. 9, 2011 linked to the common stock of Genworth Financial Inc., according to an FWP filing with the Securities and Exchange Commission.
The six-month notes will pay approximately 10.125% for an annualized coupon of 20.25%. Interest is payable monthly.
The payout at maturity will be par unless Genworth stock closes at or below the knock-in level - 65% of its initial share price - on Feb. 2, 2011, in which case investors will be exposed to the decline.
The notes are callable at par on any interest payment date.
Credit Suisse Securities (USA) LLC is the underwriter.
| Issuer: | Credit Suisse AG, Nassau Branch
|
| Issue: | Callable yield notes
|
| Underlying stock: | Genworth Financial Inc. (Symbol: GNW)
|
| Amount: | $3 million
|
| Maturity: | Feb. 9, 2011
|
| Coupon: | 20.25%, payable monthly
|
| Price: | Par
|
| Payout at maturity: | Par unless Genworth stock closes at or below the knock-in level on Feb. 2, 2011, in which case investors will be exposed to the decline
|
| Call option: | At par on any interest payment date
|
| Initial stock price: | $13.67
|
| Knock-in level: | $8.89, 65% of initial share price
|
| Pricing date: | Aug. 2
|
| Settlement date: | Aug. 9
|
| Underwriter: | Credit Suisse Securities (USA) LLC
|
| Fees: | 1%
|
| Cusip: | 22546EYL2
|
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