Published on 10/4/2011 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $4.19 million 10% callable yield notes tied to S&P 500, Russell
By Marisa Wong
Madison, Wis., Oct. 4 - Credit Suisse AG, Nassau Branch priced $4.19 million of 10% annualized single observation callable yield notes due Jan. 8, 2013 linked to the lesser performing of the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable monthly.
The notes are callable at par on Jan. 9, April 9, 2012, July 9, 2012 and Oct. 9, 2012.
The payout at maturity will be par unless either index falls by more than 25% of the initial level on the final valuation date, in which case investors will receive par plus the return of the worse performing index.
Credit Suisse Securities (USA) LLC is the agent.
Issuer: | Credit Suisse AG, Nassau Branch
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Issue: | Single observation callable yield notes
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Underlying indexes: | S&P 500 and Russell 2000
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Amount: | $4,188,000
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Maturity: | Jan. 8, 2013
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Coupon: | 10% per year, payable monthly
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Price: | Par
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Payout at maturity: | Par, unless final level of either index is less than initial level by more than 25%, in which case par plus return of worse performing index
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Initial levels: | 1,131.42 for S&P, 644.16 for Russell
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Protection amounts: | 282.855 for S&P, 161.04 for Russell; 25% of initial levels
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Call option: | At par on any Jan. 9, April 9, 2012, July 9, 2012 or Oct. 9, 2012
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Pricing date: | Sept. 30
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Settlement date: | Oct. 7
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Agent: | Credit Suisse Securities (USA) LLC
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Fees: | 2.557%, including 1.5% for selling concessions
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Cusip: | 48125XU61
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