Published on 11/3/2009 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $582,000 8% callable yield notes linked to ETF, indexes
By Angela McDaniels
Tacoma, Wash., Nov. 3 - Credit Suisse, Nassau Branch priced $582,000 of 8% callable yield notes due Nov. 4, 2010 linked to the iShares MSCI Emerging Markets index fund, Russell 2000 index and S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable quarterly.
Beginning May 4, 2010, the notes are callable at par on any interest payment date.
If the notes are not called, the payout at maturity will be par unless any underlying component falls to or below its knock-in level - 55% of its initial level - during the life of the notes, in which case investors will receive par plus the return of the worst-performing underlying component, up to a maximum payout of par.
Credit Suisse Securities (USA) LLC is the underwriter.
| Issuer: | Credit Suisse, Nassau Branch
|
| Issue: | Callable yield notes
|
| Underlying components: | iShares MSCI Emerging Markets index fund, Russell 2000 index and S&P 500 index
|
| Amount: | $582,000
|
| Maturity: | Nov. 4, 2010
|
| Coupon: | 8%, payable quarterly
|
| Price: | Par
|
| Payout at maturity: | If any underlying component falls to 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 interest payment dates from May 4, 2010 onward
|
| Initial levels: | $37.56 for iShares MSCI EM; 1,036.19 for S&P; 562.77 for Russell
|
| Knock-in levels: | $20.658 for iShares MSCI EM; 569.9045 for S&P; 309.5235 for Russell; or 55% of initial levels
|
| Pricing date: | Oct. 30
|
| Settlement date: | Nov. 4
|
| Underwriter: | Credit Suisse Securities (USA) LLC
|
| Fees: | None
|
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