New Issue: Credit Suisse sells $295,000 7.75% callable yield notes on Energy, Health Care SPDR funds

By Marisa Wong

Madison, Wis., Nov. 2 - Credit Suisse AG, Nassau Branch priced $295,000 of 7.75% callable yield notes due Nov. 3, 2011 linked to the Energy Select Sector SPDR fund and the Health Care Select Sector SPDR fund, according to a 424B2 filing with the Securities and Exchange Commission.

Interest will be payable quarterly.

The payout at maturity will be par unless either exchange-traded fund 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 ETF, capped at a maximum payout of par.

The notes will be callable at par on any interest payment date from May 3, 2011 onward.

Credit Suisse Securities (USA) LLC is the underwriter.

Issuer:	Credit Suisse AG, Nassau Branch
Issue:	Callable yield notes
Underlying ETFs:	Energy Select Sector SPDR fund and the Health Care Select Sector SPDR fund
Amount:	$295,000
Maturity:	Nov. 3, 2011
Coupon:	7.75%, payable quarterly
Price:	Par
Call:	On any interest payment date after six months
Payout at maturity:	If either fund closes at or below 70% of its initial level during the life of the notes, par plus return of worst-performing fund, capped at par; otherwise, par
Initial prices:	$59.20 for Energy Select Sector and $31.13 for Health Care Select Sector
Knock-in prices:	$41.44 for Energy Select Sector and $21.791 for Health Care Select Sector; 70% of initial levels
Pricing date:	Oct. 29
Settlement date:	Nov. 3
Underwriter:	Credit Suisse Securities (USA) LLC
Fees:	None
Cusip:	22546EC77

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