Published on 6/21/2011 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse prices $2.45 million 7% callable yield notes linked to EM fund, Russell
By Toni Weeks
San Diego, June 21 - Credit Suisse AG, Nassau Branch priced $2.45 million of 7% callable yield notes due Sept. 24, 2012 linked to the iShares MSCI Emerging Markets index fund and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable quarterly.
The notes are callable at par on any interest payment date.
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.
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: | iShares MSCI Emerging Markets index fund and Russell 2000 index
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Amount: | $2,452,000
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Maturity: | Sept. 24, 2012
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Coupon: | 7%, payable quarterly
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Price: | Par
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Payout at maturity: | Par, unless either component falls to or below 75% of its initial level during life of notes, in which case par plus return of worst-performing component, maximum of par
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Initial levels: | $45.81 for EM fund, 781.75 for Russell
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Knock-in levels: | $34.36 for EM fund, 586.31 for Russell
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Call option: | At par on any interest payment date beginning Sept. 26
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Pricing date: | June 17
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Settlement date: | June 24
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Agent: | Credit Suisse Securities (USA) LLC
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Fees: | 1.5%
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Cusip: | 22546TAH4
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