By Angela McDaniels
Tacoma, Wash., Sept. 20 - Credit Suisse AG, Nassau Branch priced $1.12 million of high/low coupon callable yield notes due Sept. 21, 2012 linked to the SPDR S&P Metals & Mining exchange-traded fund and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
A knock-in event occurs if either underlying component closes at or below 70% of its initial share price.
The coupon will be 19% unless a knock-in event occurs, in which case the coupon for that and each subsequent interest period will be 4%. Interest is payable quarterly.
The payout at maturity will be par unless a knock-in event occurs, in which case investors will receive par plus the return of the worst-performing underlying 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 agent.
| Issuer: | Credit Suisse AG, Nassau Branch
|
| Issue: | High/low coupon callable yield notes
|
| Underlying components: | SPDR S&P Metals & Mining ETF and Russell 2000 index
|
| Amount: | $1,119,000
|
| Maturity: | Sept. 21, 2012
|
| Coupon: | 19% per year unless either underlying component closes at or below its knock-in level, in which case coupon will be 4% from then on; payable quarterly
|
| Price: | Par
|
| Payout at maturity: | If either underlying component closes at or below its knock-in level during the life of the notes, par plus the return of the worst-performing underlying component, capped at par; otherwise, par
|
| Call option: | At par on any interest payment date
|
| Initial levels: | $56.62 for ETF and 714.310 for index
|
| Knock-in levels: | $39.634 for ETF and 500.017 for index; 70% of initial levels
|
| Pricing date: | Sept. 16
|
| Settlement date: | Sept. 21
|
| Agent: | Credit Suisse Securities (USA) LLC
|
| Fees: | 2.25%
|
| Cusip: | 22546TET4
|
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