Published on 11/2/2010 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse prices $424,000 7% callable yield notes on Russell 2000
By Jennifer Chiou
New York, Nov. 2 - Credit Suisse AG, Nassau Branch priced $424,000 of callable yield notes due Feb. 3, 2011 linked to the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The three-month notes carry an annualized coupon of 7%. Interest is payable monthly.
If the index closes at or below the knock-in level - 80% of its initial level - during the life of the notes, the payout at maturity will be par plus the index return, subject to a maximum payout of par. Otherwise, the payout will be par.
The notes are callable at par on any interest payment date beginning Dec. 3, 2010.
Credit Suisse Securities (USA) LLC is the underwriter.
Issuer: | Credit Suisse AG, Nassau Branch
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Issue: | Callable yield notes
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Underlying index: | Russell 2000
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Amount: | $424,000
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Maturity: | Feb. 3, 2011
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Coupon: | 7%, payable monthly
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Price: | Par
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Payout at maturity: | If index closes at or below knock-in level during life of notes, par plus index return, up to maximum payout of par; otherwise, par
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Call option: | At par on any interest payment date beginning Dec. 3, 2010
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Initial index level: | 703.35
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Knock-in level: | 562.68, 80% of initial level
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Pricing date: | Oct. 29
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Settlement date: | Nov. 3
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Underwriter: | Credit Suisse Securities (USA) LLC
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Fees: | 0.25%
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Cusip: | 22546ED50
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