Published on 4/25/2011 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse prices $797,000 7.3% callable yield notes on Russell, ETF
By Susanna Moon
Chicago, April 25 - Credit Suisse AG, Nassau Branch priced $797,000 of 7.3% callable yield notes due July 30, 2012 linked to the Russell 2000 index and the iShares MSCI Emerging Markets index fund, according to a 424B2 filing with the Securities and Exchange Commission.
Interest will be payable quarterly.
The payout at maturity will be par unless either component falls to or below its knock-in level - 75% of its initial level - during the life of the notes, in which case investors will receive par plus the return of the worst-performing component, up to a maximum payout of par.
The notes are callable on any interest payment date.
Credit Suisse Securities (USA) LLC is the agent.
Issuer: | Credit Suisse AG, Nassau Branch
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Issue: | Callable yield notes
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Underlying components: | Russell 2000 index, iShares MSCI Emerging Markets index fund
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Amount: | $797,000
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Maturity: | July 30, 2012
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Coupon: | 7.3%, payable quarterly
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Price: | Par
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Payout at maturity: | If either component falls to or below its knock-in level during the life of the notes, par plus the return of the worst-performing component, up to a maximum payment of par; otherwise, par
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Call option: | At par on any interest payment date
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Initial levels: | 845.64 for Russell, $50.18 for EM fund
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Knock-in levels: | 634.23 for Russell, $37.635 for EM fund; 75% of initial levels
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Pricing date: | April 21
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Settlement date: | April 28
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Agent: | Credit Suisse Securities (USA) LLC
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Fees: | 1.5%
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Cusip: | 22546E4D3
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