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Credit Suisse plans 8%-10% callable yield notes on Russell, Gold ETF
By Jennifer Chiou
New York, Sept. 2 - Credit Suisse AG, Nassau Branch plans to price 8% to 10% callable yield notes due Oct. 5, 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.
Interest will be payable quarterly.
A knock-in event occurs if either underlying component falls to or below 50% of its initial level on any trading day during the life of the notes.
If a knock-in event occurs, the payout at maturity will be par plus the return of the worse performing underlying component, capped at a payout of par.
If a knock-in event does not occur, investors will receive par.
The notes are callable on any interest payment date beginning on April 5, 2011.
The notes (Cusip 22546EZH0) are expected to price on Sept. 30 and settle on Oct. 5.
Credit Suisse Securities (USA) LLC is the underwriter.
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