New Issue: Credit Suisse prices $225,000 10.5% callable yield notes on Russell 2000, SPDR Metals

By Susanna Moon

Chicago, March 2 - Credit Suisse AG, Nassau Branch priced $225,000 of 10.5% callable yield notes due March 5, 2012 linked to the Russell 2000 index and the SPDR S&P Metals & Mining exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.

Interest is payable quarterly.

The payout at maturity will be par unless either 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 beginning Sept. 5.

Credit Suisse Securities (USA) LLC is the agent.

Issuer:	Credit Suisse AG, Nassau Branch
Issue:	Callable yield notes
Underlying components:	Russell 2000 index and SPDR S&P Metals & Mining exchange-traded fund
Amount:	$225,000
Maturity:	March 5, 2012
Coupon:	10.5%, payable quarterly
Price:	Par
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, up to a maximum payout of par; otherwise, par
Call option:	At par on any interest payment date after six months
Initial levels:	823.45 for Russell and $71.66 for metals
Knock-in levels:	576.4150 for Russell and $50.1620 for metals; 70% of initial levels
Pricing date:	Feb. 28
Settlement date:	March 3
Agent:	Credit Suisse Securities (USA) LLC
Fees:	0.25%
Cusip:	22546ET53

© 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.