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Credit Suisse to price 9%-11% callable yield notes linked to Facebook
By Angela McDaniels
Tacoma, Wash., Sept. 14 - Credit Suisse AG, Nassau Branch plans to price 9% to 11% callable yield notes due March 27, 2014 linked to the common stock of Facebook, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Interest will be payable quarterly. The exact interest rate will be set at pricing.
The payout at maturity will be par unless the final price of Facebook shares is less than or equal to the knock-in price, in which case investors will receive a number of shares equal to $1,000 divided by the initial share price. The knock-in price is expected to be about 50% of the initial share price and will be set at pricing.
The notes will be callable at par on any interest payment date.
The notes are expected to price Sept. 24 and settle Sept. 27.
Credit Suisse Securities (USA) LLC is the agent.
The Cusip number is 22546TZM6.
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