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Credit Suisse plans one-year 11%-12.75% callable yield notes on S&P 500, Market Vectors Gold Miners
By Susanna Moon
Chicago, July 30 - Credit Suisse AG, Nassau Branch plans to price 11% to 12.75% callable yield notes due Aug. 31, 2011 based on the S&P 500 index and the Market Vectors Gold Miners exchange-traded fund, according to an FWP filing with the Securities and Exchange Commission.
Interest will be payable quarterly.
A trigger event occurs if either underlying component falls to or below 70% of its initial level on any trading day during the life of the notes.
If a trigger event occurs, the payout at maturity will be par plus the return of the worse performing underlying component, capped at a payout of par.
If a trigger event does not occur, investors will receive par.
The notes are callable on any interest payment date beginning Nov. 30, 2010.
The notes (Cusip 22546EYC2) are expected to price on Aug. 26 and settle on Aug. 31.
Credit Suisse Securities (USA) LLC is the underwriter.
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