Credit Suisse delays pricing high/low callable notes on fund, indexes

By Susanna Moon

Chicago, Nov. 2 - Credit Suisse AG, Nassau Branch pushed out the pricing date of its high/low coupon callable yield notes 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 notes will now price on Nov. 12, settle on Nov. 15 and mature on Nov. 15, 2013. They were originally set to price on Nov. 9 and settle on Nov. 14 and had a maturity date of Nov. 14, 2013.

As previously reported, a knock-in event occurs if any underlying component falls to or below 65% of its initial level during the life of the notes.

If a knock-in event never occurs, the coupon is expected to be 9%, with the exact coupon set at pricing.

If a knock-in event occurs during any monthly observation period, the coupon for that interest period and each subsequent interest period is expected to be 1%. Interest is payable monthly.

The notes are callable at par on any interest payment date beginning March 14, 2013.

The payout at maturity will be par unless any component falls to or below its knock-in 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.

The Cusip number is 22546TG96.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.