Published on 8/3/2011 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse prices $1.1 million 15% callable yield notes linked to silver, gas funds
By Angela McDaniels
Tacoma, Wash., Aug. 3 - Credit Suisse AG, Nassau Branch priced $1.1 million of 15% callable yield notes due Aug. 6, 2012 linked to the iShares Silver Trust and the United States Natural Gas Fund, LP, according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable monthly.
The payout at maturity will be par unless either component falls to or below its knock-in level - 70% 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.
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
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Issue: | Callable yield notes
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Underlying funds: | iShares Silver Trust and United States Natural Gas Fund, LP
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Amount: | $1.1 million
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Maturity: | Aug. 6, 2012
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Coupon: | 15%, payable monthly
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Price: | Par
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Payout at maturity: | If either 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
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Initial share prices: | $38.26 for silver trust; $10.58 for natural gas fund
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Knock-in levels: | $26.78 for silver trust; $7.41 for natural gas fund; 70% of initial levels
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Pricing date: | Aug. 1
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Settlement date: | Aug. 4
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Agent: | Credit Suisse Securities (USA) LLC
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Fees: | 1.5%
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Cusip: | 22546TDV0
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