Credit Suisse to price high/low coupon callable yield notes linked to Russell 2000, two ETFs

By Angela McDaniels

Tacoma, Wash., Oct. 7 - Credit Suisse AG, Nassau Branch plans to price high/low coupon callable yield notes due Oct. 22, 2012 linked to the Russell 2000 index, the United States Oil Fund, LP and the Market Vectors Gold Miners exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.

A knock-in event will occur if any underlying component closes at or below 50% of its initial level.

Interest will be payable monthly. The coupon is expected to be 22% to 26% per year unless a knock-in event occurs, in which case the coupon is expected to be 1% per year for that and each subsequent month. The exact coupons will be set at pricing.

The payout at maturity will be par unless a knock-in event has occurred, in which case the payout will be par plus the return of the lowest-performing underlying component, up to a maximum payout of par.

The notes will be callable at par on any interest payment date.

The notes (Cusip: 22546TFU0) are expected to price Oct. 18 and settle Oct. 21.

Credit Suisse Securities (USA) LLC is the underwriter.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.