New Issue: Credit Suisse sells $10.14 million 8.75% callable yield notes on S&P, Russell 2000

By Susanna Moon

Chicago, Aug. 24 - Credit Suisse AG, Nassau Branch priced $10.14 million of 8.75% callable yield notes due Aug. 29, 2011 based on the performance of 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 Nov. 29.

The payout at maturity will be par unless either index falls to or below its knock-in level - 70% 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 underwriter.

Issuer:	Credit Suisse AG, Nassau Branch
Issue:	Callable yield notes
Underlying indexes:	S&P 500 index and Russell 2000 index
Amount:	$10,139,000
Maturity:	Aug. 29, 2011
Coupon:	8.75%, payable quarterly
Price:	Par
Payout at maturity:	If either index falls to or below its knock-in level during the life of the notes, par plus the return of the worse performing index, capped at par; otherwise, par
Call option:	At par on interest payment dates beginning Nov. 29
Initial levels:	1,071.690 for S&P and 750.183 for Russell
Knock-in levels:	610.780 for S&P and 427.546 for Russell; 70% of initial levels
Pricing date:	Aug. 20
Settlement date:	Aug. 27
Underwriter:	Credit Suisse Securities (USA) LLC
Fees:	1.5%
Cusip:	22546EYK4

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.