Published on 10/29/2010 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $3.03 million 10% callable yield notes on index, two funds
By Susanna Moon
Chicago, Oct. 29 - Credit Suisse AG, Nassau Branch priced $3.03 million of 10% annualized callable yield notes due Nov. 1, 2011 based on the Russell 2000 index, the iShares FTSE/Xinhua China 25 index fund and the iShares MSCI Brazil index fund, according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable quarterly.
The notes are callable at par on any interest payment date.
The payout at maturity will be par unless the index or either fund falls to or below its knock-in level - 50% 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, the iShares FTSE/Xinhua China 25 index fund and the iShares MSCI Brazil index fund
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Amount: | $3,031,000
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Maturity: | Nov. 1, 2011
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Coupon: | 10%, payable quarterly
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Price: | Par
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Payout at maturity: | If index or either fund 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 payout of par; otherwise, par
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Call option: | At par on any interest payment date
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Initial levels: | 704.23 for the Russell, $45.08 for the FTSE/Xinhua China and $76.24 for the MSCI Brazil
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Knock-in levels: | 50% of initial levels
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Pricing date: | Oct. 27
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Settlement date: | Nov. 1
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Agent: | Credit Suisse Securities (USA) LLC
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Fees: | 0.6%
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Cusip: | 4042K07B5
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