Published on 1/31/2011 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse upsizes 7% callable yield notes on SPDR metals, S&P to $1.85 million
By Marisa Wong
Madison, Wis., Jan. 31 - Credit Suisse AG, Nassau Branch amended the issue size of its recently priced 7% annualized callable yield notes due July 29, 2011 based on the SPDR S&P Metals & Mining exchange-traded fund and the S&P 500 index to $1.85 million, according to a 424B3 filing with the Securities and Exchange Commission.
The issuer originally priced $1.79 million of the notes on Jan. 26.
Interest is payable March 29, May 29 and at maturity.
The notes are callable at par on any interest payment date.
The payout at maturity will be par unless either component falls to or below its knock-in level - 77.5% of its initial level - during the life of the notes, in which case investors will receive par plus the return of the worse-performing component, up to a maximum payout of par.
Credit Suisse Securities (USA) LLC is the agent.
| Issuer: | Credit Suisse AG, Nassau Branch
|
| Issue: | Callable yield notes
|
| Underlying components: | SPDR S&P Metals & Mining exchange-traded fund and S&P 500 index
|
| Amount: | $1,853,000
|
| Maturity: | July 29, 2011
|
| Coupon: | 7%, payable March 29, May 29 and at maturity
|
| Price: | Par
|
| Payout at maturity: | If either component falls to or below its knock-in level during the life of the notes, par plus the return of the worst-performing component, up to a maximum payout of par; otherwise, par
|
| Call option: | At par on any interest payment date
|
| Initial levels: | $69.68 for SPDR Metals; 1,296.63 for S&P
|
| Knock-in levels: | $54.0020 for SPDR Metals; 1,004.8883 for S&P; 77.5% of initial levels
|
| Pricing date: | Jan. 26
|
| Settlement date: | Jan. 31
|
| Agent: | Credit Suisse Securities (USA) LLC
|
| Fees: | 1.5%
|
| Cusip: | 22546EN26
|
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