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Credit Suisse updates maturity date for planned 10.5%-11.5% callable yield notes on index, fund
By Jennifer Chiou
New York, Aug. 2 - Credit Suisse AG, Nassau Branch pushed back the expected maturity of its planned 10.5% to 11.5% callable yield notes linked to the Russell 2000 index and the United States Oil Fund, LP to Dec. 5, 2013 from due Sept. 5, 2013, according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable quarterly. The exact coupon will be determined at pricing.
The notes are callable at par on any interest payment date beginning on Dec. 5, 2012.
The payout at maturity will be par unless any component falls by 45% or more 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 (Cusip: 22546TWZ0) are expected to price on Aug. 30 and settle on Sept. 5.
Credit Suisse Securities (USA) LLC is the agent.
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