Published on 10/4/2010 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $3.9 million 10% callable yield notes on S&P 500, Russell 2000
By Susanna Moon
Chicago, Oct. 4 - Credit Suisse AG, Nassau Branch priced $3.9 million of 10% callable yield notes due Oct. 5, 2011 based on the S&P 500 index and Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable quarterly.
The notes are callable at par on any interest payment date beginning April 5, 2011.
The payout at maturity will be par unless either index falls to or below its knock-in level - 65% of its initial level - during the life of the notes, in which case investors will receive par plus the return of the worse performing index, up to a maximum payout of par.
Credit Suisse Securities (USA) LLC is the agent.
Issuer: | Credit Suisse AG, Nassau Branch
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Issue: | Callable yield notes
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Underlying components: | S&P 500 index, Russell 2000 index
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Amount: | $3,904,000
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Maturity: | Oct. 5, 2011
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Coupon: | 10%, payable quarterly
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Price: | Par
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Payout at maturity: | If index falls to or below its knock-in level during the life of the notes, par plus the return of the worse performing index, up to a maximum payout of par; otherwise, par
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Call option: | At par on any interest payment date after six months
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Initial levels: | 1,141.2 for S&P, 676.14 for Russell
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Knock-in levels: | 741.78 for S&P, 439.491 for Russell; 65% of initial levels
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Pricing date: | Sept. 30
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Settlement date: | Oct. 5
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Agent: | Credit Suisse Securities (USA) LLC
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Fees: | 0.25%
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Cusip: | 22546EZK3
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