By Angela McDaniels
Tacoma, Wash., Dec. 27 - Credit Suisse AG, Nassau Branch priced $774,000 of callable yield notes due June 28, 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.
The six-month notes carry an annualized coupon of 9%. Interest is payable on Feb. 28, April 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 are callable at par on any interest payment date.
Credit Suisse Securities (USA) LLC is the underwriter.
| Issuer: | Credit Suisse AG, Nassau Branch
|
| Issue: | Callable yield notes
|
| Underlying ETFs: | SPDR S&P Metals & Mining ETF and Market Vectors Gold Miners ETF
|
| Amount: | $774,000
|
| Maturity: | June 28, 2011
|
| Coupon: | 9%, payable on Feb. 28, April 28 and at maturity
|
| Price: | Par
|
| Payout at maturity: | If either underlying component falls to or below knock-in level during life of notes, par plus return of worst-performing underlying component, up to maximum payout of par; otherwise, par
|
| Call option: | At par on any interest payment date
|
| Initial share prices: | $67.93 for SPDR ETF and $59.89 for Market Vectors ETF
|
| Knock-in levels: | $47.551 for SPDR ETF and $41.923 for Market Vectors ETF; 70% of initial prices
|
| Pricing date: | Dec. 22
|
| Settlement date: | Dec. 28
|
| Underwriter: | Credit Suisse Securities (USA) LLC
|
| Fees: | 1.5%
|
| Cusip: | 22546EK37
|
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