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Credit Suisse plans callable yield notes tied to S&P, Russell 2000
By Susanna Moon
Chicago, June 28 - Credit Suisse AG, Nassau Branch plans to price callable yield notes due Aug. 1, 2011 based on the performance of the S&P 500 index and the Russell 2000 index, according to an FWP filing with the Securities and Exchange Commission.
Interest will be 9% to 11%, payable quarterly, with the exact rate to be set at pricing.
The notes are callable at par on any interest payment date beginning Nov. 1, 2010.
If the notes are not called, the payout at maturity will be par unless either underlying 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 worse-performing underlying component, up to a maximum payout of par.
The notes are expected to price on July 27 and settle on July 30.
Credit Suisse Securities (USA) LLC is the underwriter.
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