Published on 3/30/2011 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse prices $637,000 10% callable yield notes linked to silver trust, gold fund
By Toni Weeks
San Diego, March 30 - Credit Suisse AG, Nassau Branch priced $637,000 of 10% annualized callable yield notes due Sept, 30, 2011 linked to the iShares Silver Trust and the Market Vectors Gold Miners exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
The coupon will be 10%. Interest is payable on May 31, July 31 and the maturity date.
The notes are callable at par on any interest payment date beginning May 31, 2011.
The payout at maturity will be par unless either fund falls to or below its knock-in level - 80% 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: | iShares Silver Trust, Market Vectors Gold Miners exchange-traded fund
|
| Amount: | $637,000
|
| Maturity date: | Sept. 30, 2011
|
| Coupon: | 10%; payable May 31, July 31 and maturity date
|
| Price: | Par
|
| Payout at maturity: | Par, unless either fund falls to or below its knock-in level during life of notes, in which case par plus return of worst-performing component, capped at par
|
| Initial levels: | 36.18 for Silver Trust, 58.51 for Market Vectors Gold Miners
|
| Knock-in levels: | 28.9440 for Silver Trust, 46.8080 for Gold Miners
|
| Call option: | At par on any interest payment date beginning May 31, 2011
|
| Pricing date: | March 28
|
| Settlement date: | March 31
|
| Agent: | Credit Suisse Securities (USA) LLC
|
| Fees: | 1.5%
|
| Cusip: | 22546EY32
|
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