Published on 9/22/2010 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $2.19 million 10% callable yield notes on S&P 500, Russell 2000
By Marisa Wong
Madison, Wis., Sept. 22 - Credit Suisse AG, Nassau Branch priced $2.19 million of 10% callable yield notes due Sept. 27, 2011 linked to the S&P 500 index and the Russell 2000 index, according to an FWP filing with the Securities and Exchange Commission.
Interest is payable quarterly.
The notes are callable at par on any interest payment date beginning Dec. 27.
The payout at maturity will be par unless either index 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 worse-performing index, 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 indexes: | S&P 500 and Russell 2000
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Amount: | $2.19 million
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Maturity: | Sept. 27, 2011
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Coupon: | 10%, payable quarterly
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Price: | Par
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Payout at maturity: | If either index falls to or below its knock-in level during the life of the notes, par plus the return of the worse-performing index, up to a maximum payout of par; otherwise, par
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Call option: | At par on any interest payment date from Dec. 27 onward
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Initial levels: | 1,134.28 for S&P 500 and 656.71 for Russell 2000
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Knock-in levels: | 793.996 for SP 500 and 459.697 for Russell 2000; 70% of initial levels
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Pricing date: | Sept. 22
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Settlement date: | Sept. 27
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Agent: | Credit Suisse Securities (USA) LLC
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Fees: | 2%
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Cusip: | 22546EZQ0
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