Published on 4/26/2011 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse prices $409,000 5.7% callable yield notes on S&P 500, Russell
By Toni Weeks
San Diego, April 26 - Credit Suisse AG, Nassau branch priced $409,000 of 5.7% annualized callable yield notes due July 30, 2012 linked to the S&P 500 and Russell 2000 indexes, 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 index 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 index, up to a maximum payout of par.
The notes are callable at par 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 indexes: | S&P 500 and Russell 2000
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Amount: | $409,000
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Maturity: | July 30, 2012
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Coupon: | 5.7%, payable quarterly
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Price: | Par
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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 worst-performing index, capped at par; otherwise, par
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Call option: | At par on any interest payment date after July 29, 2011
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Initial levels: | 1,337.38 for S&P 500, 845.64 for Russell
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Knock-in levels: | 1,003.035 for S&P 500, 634.23 for Russell; 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: | 22546E4F8
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