Published on 4/28/2011 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse prices $3.29 million 10.6% callable yield notes on Gold Miners ETF, Russell
By Toni Weeks
San Diego, April 28 - Credit Suisse AG, Nassau Branch priced $3.29 million of 10.6% callable yield notes due April 30, 2012 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 is payable quarterly.
The payout at maturity will be par unless either underlying component falls to or below its knock-in level - 70% 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.
The notes are callable at par on any interest payment date.
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: | $3.29 million
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Maturity: | April 30, 2012
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Coupon: | 10.6%, payable quarterly
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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, capped at par; otherwise, par
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Call option: | At par on any interest payment date
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Initial levels: | $61.56 for gold ETF, 858.31 for Russell
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Knock-in levels: | $43.092 for gold ETF, 600.817 for Russell; 70% of initial levels
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Pricing date: | April 27
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Settlement date: | April 29
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Agent: | Credit Suisse Securities (USA) LLC
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Fees: | 2%
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Cusip: | 22546E6B5
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