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Credit Suisse plans high/low coupon callable yield notes tied to Russell 2000 index, two funds
By Jennifer Chiou
New York, July 26 - Credit Suisse AG, Nassau Branch plans to price high/low coupon callable yield notes due Aug. 6, 2012 linked to the Russell 2000 index, the Market Vectors Gold Miners exchange-traded fund and the United States Natural Gas Fund, LP, according to an FWP with the Securities and Exchange Commission.
A knock-in event occurs if the index or either fund falls to or below 70% of its initial level during the life of the notes.
If a knock-in event does not occur, the coupon is expected to be 15.4%.
If a knock-in event occurs during any monthly observation period, the coupon for that interest period and each subsequent interest period is 4%. Interest is payable monthly.
The notes are callable at par on any interest payment date beginning on Nov. 7, 2011.
The payout at maturity will be par unless any underlying 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 lowest-performing component, up to a maximum payout of par.
The notes (Cusip: 22546TCG4) are expected to price on Aug. 2 and settle on Aug. 5.
Credit Suisse Securities (USA) LLC is the agent.
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