Published on 7/25/2011 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse prices $555,000 7.25% callable yield notes on Russell 2000, MSCI EM fund
By Susanna Moon
Chicago, July 25 - Credit Suisse AG, Nassau Branch priced $555,000 of 7.25% callable yield notes due Oct. 29, 2012 linked to the Russell 2000 index and the iShares MSCI Emerging Markets index fund, according to a 424B2 filing with the Securities and Exchange Commission.
Interest will be payable quarterly.
The payout at maturity will be par unless either component falls to or below its knock-in level - 75% 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.
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
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Issue: | Callable yield notes
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Underlying components: | Russell 2000 index, iShares MSCI Emerging Markets index fund
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Amount: | $555,000
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Maturity: | Oct. 29, 2012
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Coupon: | 7.25%, payable quarterly
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Price: | Par
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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, capped at par; otherwise, par
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Call option: | At par on any interest payment date
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Initial levels: | 841.82 for Russell, $47.65 for EM fund
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Knock-in levels: | 631.365 for Russell, $35.7375 for EM fund; 75% of initial levels
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Pricing date: | July 22
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Settlement date: | July 29
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Agent: | Credit Suisse Securities (USA) LLC
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Fees: | 1.5%
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Cusip: | 22546TBH3
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