Credit Suisse will offer 9%-11% callable yield notes linked to S&P 500, metals/mining ETF

By Angela McDaniels

Tacoma, Wash., Oct. 28 - Credit Suisse AG, Nassau Branch plans to price callable yield notes due May 31, 2011 linked to the S&P 500 index and the SPDR S&P Metals & Mining exchange-traded fund, according to an FWP filing with the Securities and Exchange Commission.

The notes will carry an annualized coupon of 9% to 11%, with the exact rate to be set at pricing. Interest will be payable Feb. 28 and at maturity.

The payout at maturity will be par unless either underlying 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 underlying component, capped at a maximum payout of par.

The notes will be callable at par on any interest payment date.

The notes (Cusip 22546EE67) are expected to price Nov. 22 and settle Nov. 29.

Credit Suisse Securities (USA) LLC is the underwriter.

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