Published on 9/20/2011 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse prices $245,000 11% callable yield notes tied to Russell, two funds
By Marisa Wong
Madison, Wis., Sept. 20 - Credit Suisse AG, Nassau Branch priced $245,000 of 11% callable yield notes due March 21, 2012 linked to the Russell 2000 index, the United States Natural Gas Fund, LP and the Market Vectors Gold Miners exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable monthly.
The notes are callable at par on any interest payment date beginning on Oct. 21.
The payout at maturity will be par unless any 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.
Credit Suisse Securities (USA) LLC is the agent.
| Issuer: | Credit Suisse AG, Nassau Branch
|
| Issue: | Callable yield notes
|
| Underlying components: | Russell 2000 index, United States Natural Gas Fund, LP and Market Vectors Gold Miners ETF
|
| Amount: | $245,000
|
| Maturity: | March 21, 2012
|
| Coupon: | 11%, payable monthly
|
| Price: | Par
|
| Payout at maturity: | Par, unless any component falls to or below 70% of its initial level during life of notes, in which case par plus return of worst-performing component, maximum of par
|
| Initial levels: | 714.31 for Russell, $9.67 for gas fund, $64.11 for gold fund
|
| Knock-in levels: | 500.017 for Russell, $6.769 for oil fund, $44.877 for gold fund; 70% of initial levels
|
| Call option: | At par on any interest payment date beginning Oct. 21
|
| Pricing date: | Sept. 16
|
| Settlement date: | Sept. 21
|
| Agent: | Credit Suisse Securities (USA) LLC
|
| Fees: | 1.5%
|
| Cusip: | 22546TEP2
|
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