Credit Suisse plans 8.35% callable yield notes on metals, gold ETFs

By Angela McDaniels

Tacoma, Wash., Feb. 16 - Credit Suisse AG, Nassau Branch plans to price callable yield notes due Aug. 29, 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 are expected to carry an annualized coupon of 8.35%. Interest will be payable monthly.

The payout at maturity will be par unless either of the ETFs closes at 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 ETF, capped at a maximum payout of par.

Beginning April 29, the notes will be callable at par on any interest payment date.

The notes (Cusip: 22546EW26) are expected to price on Feb. 23 and settle on Feb. 28.

Credit Suisse Securities (USA) LLC is the underwriter.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.