Published on 4/27/2011 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse prices $2.69 mln callable yield notes on indexes, ETF
By Jennifer Chiou
New York, April 27 - Credit Suisse AG, Nassau Branch priced $2.69 million of 8.5% annualized callable yield notes due Oct. 31, 2011 linked to the S&P 500 index, the Russell 2000 index and the Market Vectors Gold Miners exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable on June 30, Aug. 30 and at maturity.
The payout at maturity will be par unless any underlying component falls to or below its knock-in level during the life of the notes, in which case investors will receive par plus the return of the lowest-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: | S&P 500 index, Russell 2000 index, Market Vectors Gold Miners ETF
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Amount: | $2,692,000
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Maturity: | Oct. 31, 2011
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Coupon: | 8.5%, payable on June 30, Aug. 30 and at maturity
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Price: | Par
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Payout at maturity: | If either index or the fund closes at or below its knock-in level during life of notes, par plus return of lowest-performing component, up to maximum payout of par; otherwise, par
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Initial levels: | 1,335.25 for S&P; 844.23 for Russell; $61.24 for Gold Miners
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Knock-in levels: | 1,001.4375 for S&P; 633.1725 for Russell; $45.93 for Gold Miners; 75% of initial levels
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Pricing date: | April 25
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Settlement date: | April 29
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Underwriter: | Credit Suisse Securities (USA) LLC
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Fees: | 1.5%
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Cusip: | 22546E3S1
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