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Credit Suisse plans 10%-12% callable yield notes on Russell, gold ETF
By Toni Weeks
San Diego, March 31 - Credit Suisse AG, Nassau Branch plans to price 10% to 12% callable yield notes due May 4, 2012 linked to the Russell 2000 index and the Market Vectors Gold Miners exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
The exact coupon will be set at pricing. Interest is payable quarterly.
The notes are callable at par on any interest payment date beginning Nov. 4, 2011.
The payout at maturity will be par unless either component falls to or below its knock-in level - 75% 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 (Cusip: 22546E3J1) are expected to price April 29 and settle May 4.
Credit Suisse Securities (USA) LLC is the agent.
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