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Credit Suisse plans 12% callable yield notes linked to Russell 2000, Market Vectors Gold ETF
By Angela McDaniels
Tacoma, Wash., Nov. 3 - Credit Suisse AG, Nassau Branch plans to price callable yield notes due May 9, 2011 linked to the Russell 2000 index and the Market Vectors Gold Miners exchange-traded fund, according to an FWP filing with the Securities and Exchange Commission.
The six-month notes will pay 6% for an annualized coupon of 12%. Interest will be payable monthly.
The payout at maturity will be par unless either underlying component closes at or below 65% of its initial level during the life of the notes, in which case investors will receive par plus the return of the worst-performing underlying component, subject to a maximum payout of par.
Beginning Jan. 9, the notes will be callable at par on any interest payment date.
The notes (Cusip 22546EH64) are expected to price Nov. 4 and settle Nov. 9.
Credit Suisse Securities (USA) LLC is the agent.
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