New Issue: Credit Suisse prices $1.59 million 9% callable yield notes linked to S&P 500, mining ETF

By Angela McDaniels

Tacoma, Wash., Nov. 24 - Credit Suisse AG, Nassau Branch priced $1.59 million of callable yield notes due May 31, 2011 linked to the S&P 500 index and the SPDR S&P Metals & Mining exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.

The notes carry an annualized coupon of 9%. Interest is payable on Jan. 31, March 31 and at maturity.

The payout at maturity will be par unless either underlying component falls to or below its knock-in level - 75% of its initial level - during the life of the notes, in which case investors will receive par plus the return of the worst-performing underlying 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
Issue:	Callable yield notes
Underlying components:	S&P 500 index and SPDR S&P Metals & Mining ETF
Amount:	$1,585,000
Maturity:	May 31, 2011
Coupon:	9%, payable on Jan. 31, March 31 and at maturity
Price:	Par
Payout at maturity:	If either underlying component falls to or below knock-in level during life of notes, par plus return of worst-performing underlying component, up to maximum payout of par; otherwise, par
Call option:	At par on any interest payment date
Initial levels:	1,197.84 for index and $61.69 for ETF
Knock-in levels:	898.38 for index and $46.2675 for ETF; 75% of initial levels
Pricing date:	Nov. 22
Settlement date:	Nov. 29
Underwriter:	Credit Suisse Securities (USA) LLC
Fees:	1.5%
Cusip:	22546EG40

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