Credit Suisse plans high/low coupon callable yield notes on SPDR S&P Metals, Gold Miners ETFs

By Susanna Moon

Chicago, May 31 - Credit Suisse AG, Nassau Branch plans to price high/low coupon callable yield notes due June 29, 2012 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 occurs if either fund falls to or below 72.5% of its initial level during the life of the notes.

If a knock-in event does not occur during a quarterly observation period, the coupon will be 12.5% to 14.5% for that period, with the exact rate to be set at pricing. If a knock-in event occurs during a quarterly observation period, the coupon for that interest period and each subsequent quarterly interest period will be 4%. Interest is payable quarterly.

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 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.

Credit Suisse Securities (USA) LLC is the underwriter.

The notes will price on June 27 and settle on June 30.

The Cusip is 22546TAC5.

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