Credit Suisse plans high/low coupon callable notes tied to index, fund

By Susanna Moon

Chicago, Sept. 12 - Credit Suisse AG, Nassau Branch plans to price high/low coupon callable yield notes due Sept. 24, 2012 linked to the Russell 2000 index and the SPDR S&P Metals & Mining exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.

A knock-in event will occur if either the index or fund closes at or below 70% of its initial level.

The coupon will be 17% to 19% unless a knock-in event occurs, in which case the coupon will be 4% for that and each subsequent quarter. Interest is payable quarterly.

The payout at maturity will be par unless a knock-in event has occurred, in which case the payout will be par plus the return of the lower-performing component, up to a maximum payout of par.

The notes are callable at par on any interest payment date beginning Dec. 23.

Credit Suisse Securities (USA) LLC is the underwriter.

The notes will price on Sept. 20 and settle on Sept. 23.

The Cusip number is 22546TET4.

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