Credit Suisse plans 8.5%-10.5% callable yield notes tied to indexes, ETF

By Angela McDaniels

Tacoma, Wash., May 31 - Credit Suisse AG, Nassau Branch plans to price callable yield notes due Dec. 30, 2011 linked to the S&P 500 index, the Russell 2000 index and the Market Vectors Gold Miners exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.

The six-month notes will carry an annualized coupon of 8.5% to 10.5%. The exact rate will be set at pricing. Interest will be payable quarterly.

The payout at maturity will be par unless any underlying 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 underlying component, capped at a maximum payout of par.

The notes will be callable at par on any interest payment date.

The notes (Cusip: 22546E7K4) are expected to price June 27 and settle June 30.

Credit Suisse Securities (USA) LLC is the underwriter.

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