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Credit Suisse plans 8%-10% bearish callable yield notes linked to S&P 500, Russell 2000
By Jennifer Chiou
New York, July 30 - Credit Suisse AG, Nassau Branch plans to price 8% to 10% bearish callable yield notes due Aug. 31, 2011 linked to the S&P 500 index and the Russell 2000 index, according to an FWP filing with the Securities and Exchange Commission.
Interest is payable quarterly.
The payout at maturity will be par unless either index closes at or above 122.5% of its initial level during the life of the notes, in which case the payout will be par minus the return of the better-performing index, subject to a maximum payout of par.
Beginning Feb. 28, 2011, the notes will be called at par on any interest payment date.
The notes (Cusip 22546EXW9) are expected to price on Aug. 26 and settle on Aug. 31.
Credit Suisse Securities (USA) LLC is the underwriter.
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