By Marisa Wong
Madison, Wis., Jan. 7 - Credit Suisse AG, Nassau Branch priced an additional $2.2 million principal amount of 0% exchange-traded notes due Oct. 6, 2020 linked to the Credit Suisse Merger Arbitrage Liquid Index (Net) index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes priced at 100.6.
The company plans to issue up to $1 billion of the notes. The principal amount of notes issued so far is $58.64 million.
The index uses a quantitative methodology to track a dynamic basket of securities held as long or short positions and cash. It is designed to capture the spread, if any, between the price at which the stock of a target company trades after a proposed acquisition of that company is announced and the price that the acquiring company has proposed to pay for the stock of the target company.
The notes are putable in increments of $1 million or more on any business day, and they may be called in whole beginning Oct. 1, 2012 if the principal amount outstanding is $10 million or less.
The payout at maturity or upon redemption will be par of $20 plus the index return minus a 0.55% annualized investor fee and minus an index calculation fee of 0.5% per year.
The notes are listed on the NYSE Arca under the symbol "CSMA."
Credit Suisse Securities (USA) LLC is the underwriter.
Issuer: | Credit Suisse AG, Nassau Branch
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Issue: | Exchange-traded notes
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Underlying index: | Credit Suisse Merger Arbitrage Liquid Index (Net)
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Amount: | $58,636,000, increased from $15 million
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Proceeds: | $56,785,608
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Maturity: | Oct. 6, 2020
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Coupon: | 0%
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Price: | Par of $20 for original $15 million; 100.6 for latest $2.2 million
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Payout at maturity: | Par plus index return minus 0.55% annualized investor fee minus index calculation fee of 0.5% per year
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Put option: | In increments of $1 million or more at any time
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Call option: | Beginning Oct. 1, 2012 if $10 million or less remains outstanding
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Pricing dates: | Oct. 1 for original issue; Jan. 6 for latest add-on
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Settlement dates: | Oct. 6 for original issue; Jan. 11 for latest add-on
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Underwriter: | Credit Suisse Securities (USA) LLC
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Fees: | None
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Listing: | NYSE Arca: CSMA
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Cusip: | 22542D845
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