Published on 7/13/2011 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse prices $763,000 8.3% callable yield notes linked to index, two ETFs
By Toni Weeks
San Diego, July 13 - Credit Suisse AG, Nassau Branch priced $763,000 of 8.3% callable yield notes due July 16, 2012 linked to the Russell 2000 index, 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.
Interest is payable monthly.
The notes are callable at par on any interest payment date beginning Oct. 17.
The payout at maturity will be par unless any component falls to or below its knock-in level - 60% of its initial 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.
Credit Suisse Securities (USA) LLC is the agent.
Issuer: | Credit Suisse AG, Nassau Branch
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Issue: | Callable yield notes
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Underlying components: | Russell 2000 index, SPDR S&P Metals & Mining exchange-traded fund and Market Vectors Gold Miners ETF
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Amount: | $763,000
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Maturity: | July 16, 2012
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Coupon: | 8.3%, payable monthly
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Price: | Par
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Payout at maturity: | If any component falls to or below its knock-in level during the life of the notes, par plus the return of the worst-performing component, capped at par; otherwise, par
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Call option: | At par on any interest payment date beginning Oct. 17
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Initial levels: | 829.77 for Russell, $67.68 for metals fund, $57.30 for gold fund
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Knock-in levels: | 497.8620 for Russell, $40.608 for metals fund, $34.38 for gold fund; 60% of initial levels
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Pricing date: | July 12
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Settlement date: | July 15
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Agent: | Credit Suisse Securities (USA) LLC
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Fees: | 2%
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Cusip: | 22546TBU4
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