Published on 1/18/2011 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $2.27 million 8.4% callable yield notes on Russell, gold ETF
By Marisa Wong
Madison, Wis., Jan. 18 - Credit Suisse AG, Nassau Branch priced $2.27 million of 8.4% annualized callable yield notes due July 19, 2011 linked to the Russell 2000 index and the Market Vectors Gold Miners exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable on March 19, May 19 and at maturity.
The payout at maturity will be par unless either underlying component falls to or below its knock-in level - 67.5% of the initial level - during the life of the notes, in which case investors will receive par plus the return of the lower-performing underlying component, capped at a maximum payout of par.
The notes are callable at par on any interest payment date.
Credit Suisse Securities (USA) LLC is the underwriter.
Issuer: | Credit Suisse AG, Nassau Branch
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Issue: | Callable yield notes
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Underlying components: | Russell 2000 index and Market Vectors Gold Miners ETF
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Amount: | $2,272,000
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Maturity: | July 19, 2011
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Coupon: | 8.4%, payable on March 19, May 19 and at maturity
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Price: | Par
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Payout at maturity: | If either underlying component falls to or below knock-in level during life of notes, par plus return of lower-performing underlying component, up to maximum payout of par; otherwise, par
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Call option: | At par on any interest payment date
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Initial levels: | 800.65 for index and $56.05 for ETF
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Knock-in levels: | 540.4388 for index and $37.8338 for ETF; 67.5% of initial prices
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Pricing date: | Jan. 13
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Settlement date: | Jan. 19
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Underwriter: | Credit Suisse Securities (USA) LLC
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Fees: | 0.25%
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Cusip: | 22546EQ98
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