Credit Suisse plans 8.7% callable yield notes on Russell, two funds

By Jennifer Chiou

New York, July 20 - Credit Suisse AG, Nassau Branch plans to price 8.7% callable yield notes due Aug. 2, 2012 linked to the Russell 2000 index, the Market Vectors Gold Miners exchange-traded fund and the SPDR S&P Metals & Mining ETF, according to a 424B2 filing with the Securities and Exchange Commission.

Interest will be payable monthly.

The payout at maturity will be par unless the index or either fund falls to or below its knock-in level - 60% 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 beginning on Oct. 31, 2011.

The notes (Cusip: 22546TCE9) are expected to price on July 26 and settle on July 29.

Credit Suisse Securities (USA) LLC is the agent.

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