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Credit Suisse plans 8%-10% callable yield notes tied to Russell, ETFs
By Angela McDaniels
Tacoma, Wash., Jan. 15 - Credit Suisse AG, Nassau Branch plans to price callable yield notes due Feb. 5, 2014 linked to the Russell 2000 index, the United States Oil Fund, LP and the Market Vectors Gold Miners exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
The interest rate will be 8% to 10%, with the exact rate to 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 - 60% 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 are expected to price Jan. 31 and settle Feb. 5.
Credit Suisse Securities (USA) LLC is the underwriter.
The Cusip number is 22546TU58.
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