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Credit Suisse plans 10%-12% callable yield notes on S&P 500, Russell
By Jennifer Chiou
New York, Sept. 2 - Credit Suisse AG, Nassau Branch plans to price 10% to 12% callable yield notes due Oct. 5, 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 will be payable quarterly.
Beginning April 5, 2011, the notes are callable at par on any interest payment date.
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 - 65% 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 (Cusip 22546EZK3) are expected to price on Sept. 30 and settle on Oct. 5.
Credit Suisse Securities (USA) LLC is the underwriter.
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