Credit Suisse plans high/low coupon callable yield notes linked to mining, gold ETFs

By Angela McDaniels

Tacoma, Wash., Dec. 9 - Credit Suisse AG, Nassau Branch plans to price high/low coupon callable yield notes due Dec. 22, 2011 linked to the SPDR S&P Metals & Mining exchange-traded fund and the Market Vectors Gold Miners ETF, according to a 424B2 filing with the Securities and Exchange Commission.

A knock-in event will occur if either underlying component closes at or below 70% of its initial level.

Interest will be payable quarterly. The coupon is expected to be 17% per year unless a knock-in event occurs, in which case the coupon is expected to be 5% per year for that and each subsequent interest period. The exact coupons will be set at pricing.

The payout at maturity will be par unless a knock-in event has occurred, in which case the payout will be par plus the return of the lower-performing underlying component, up to a maximum payout of par.

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

The notes (Cusip 22546EM35) are expected to price Dec. 17 and settle Dec. 22.

Credit Suisse Securities (USA) LLC is the underwriter.

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