Published on 2/15/2011 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse prices $4.81 million 9% callable yield notes on Russell, ETF
By Jennifer Chiou
New York, Feb. 15 - Credit Suisse AG, Nassau Branch priced $4.81 million of 9% annualized callable yield notes due Aug. 16, 2011 linked to the Market Vectors Gold Miners exchange-traded fund and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
Interest will be payable on April 16, June 16 and at maturity.
The notes are callable on any interest payment date beginning on April 16.
The payout at maturity will be par unless either component falls to or below its knock-in level - 77.5% 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: | Market Vectors Gold Miners exchange-traded fund and Russell 2000 index
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Amount: | $4,812,000
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Maturity: | Aug. 16, 2011
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Coupon: | 9%, payable on April 16, June 16 and at maturity
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Price: | Par
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Payout at maturity: | If either component 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 payment of par; otherwise, par
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Call option: | At par on any interest payment date beginning April 16
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Initial levels: | $55.73 for Gold Miners; 822.11 for Russell
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Knock-in levels: | $43.1908 for Gold Miners; 637.1353 for Russell; 77.5% of initial levels
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Pricing date: | Feb. 11
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Settlement date: | Feb. 16
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Agent: | Credit Suisse Securities (USA) LLC
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Fees: | 1.5%
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Cusip: | 22546ES88
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