Published on 4/4/2011 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse prices $535,000 8% callable yield notes linked to Russell, Gold Miners ETF
By Jennifer Chiou
New York, April 4 - Credit Suisse AG, Nassau Branch priced $535,000 of 8% annualized callable yield notes due Oct. 5, 2011 linked to the Russell 2000 index and the Market Vectors Gold Miners exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable on June 5, Aug. 5 and at maturity.
The payout at maturity will be par unless either the index or fund 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, capped at a maximum payout of par.
The notes are callable at par on any interest payment date.
Credit Suisse Securities (USA) LLC is the underwriter.
Issuer: | Credit Suisse AG, Nassau Branch
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Issue: | Callable yield notes
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Amount: | $535,000
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Maturity: | Oct. 5, 2011
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Coupon: | 8%, payable on June 5, Aug. 5 and at maturity
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Price: | Par
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Payout at maturity: | Par, unless either index or fund falls to or below 77.5% of initial level during life of notes, in which case par plus return of worst-performing component, capped at par
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Initial levels: | 843.55 for index and $60.06 for ETF
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Knock-in levels: | 653.7513 for index and $46.5465 for ETF, 77.5% of initial levels
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Call option: | At par on any interest payment date
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Pricing date: | March 31
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Settlement date: | April 5
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Agent: | Credit Suisse Securities (USA) LLC
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Fees: | None
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Cusip: | 22546EW91
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