Published on 6/29/2010 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $3.48 million 9% callable yield notes on S&P, Market Vectors Gold
By Susanna Moon
Chicago, June 29 - Credit Suisse, Nassau Branch priced $3.48 million of 9% callable yield notes due June 30, 2011 based on the performance of the S&P 500 index and Market Vectors Gold Miners exchange-traded 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 either underlying 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 index or fund, up to a maximum payout of par.
Credit Suisse Securities (USA) LLC is the underwriter.
Issuer: | Credit Suisse, Nassau Branch
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Issue: | Callable yield notes
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Underlying components: | S&P 500 index and Market Vectors Gold Miners exchange-traded fund
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Amount: | $3,479,000
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Maturity: | June 30, 2011
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Coupon: | 9%, payable quarterly
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Price: | Par
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Payout at maturity: | If either underlying component falls to or below its knock-in level during the life of the notes, par plus the return of the worst-performing index or fund, capped at par; otherwise, par
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Call option: | At par on interest payment dates
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Initial levels: | 1,076.76 for S&P; $54.06 for Market Vectors Gold
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Knock-in levels: | 753.732 for S&P; $37.842 for Market Vectors Gold; 70% of initial levels
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Pricing date: | June 25
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Settlement date: | June 30
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Underwriter: | Credit Suisse Securities (USA) LLC
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Fees: | 1.5%
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Cusip: | 22546EVT8
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