Published on 3/11/2011 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse prices $3.25 million 11.25% callable yield notes on index, two funds
By Susanna Moon
Chicago, March 11 - Credit Suisse AG, Nassau Branch priced $3.25 million of 11.25% callable yield notes due March 14, 2012 linked to the Russell 2000 index, United States Natural Gas Fund, LP and Market Vectors Gold Miners exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable monthly.
The notes are callable at par on June 14, Sept. 14 or Dec. 14, 2011.
The payout at maturity will be par unless any of the underlying components falls to or below its knock-in level - 65% 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, United States Natural Gas Fund, LP and Market Vectors Gold Miners exchange-traded fund
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Amount: | $3,245,000
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Maturity: | March 14, 2012
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Coupon: | 11.25%, payable monthly
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Price: | Par
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Payout at maturity: | If any of the components falls to or below its knock-in level during the life of the notes, par plus the return of the worst-performing component, up to a maximum of par; otherwise, par
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Call option: | At par on June 14, Sept. 14, or Dec. 14, 2011
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Initial levels: | 821.19 for Russell, $10.47 for gas fund, $58.94 for Gold Miners
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Knock-in levels: | 533.7735 for Russell, $6.8055 for gas fund, $38.311 for Gold Miners; 65% of initial levels
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Pricing date: | March 9
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Settlement date: | March 14
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Agent: | Credit Suisse Securities (USA) LLC
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Fees: | 2.25%
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Cusip: | 22546E2E3
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