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Credit Suisse plans 5% autocallable yield notes on S&P 500, Russell
By Toni Weeks
San Luis Obispo, Calif., March 4 - Credit Suisse AG, Nassau Branch plans to price 5% autocallable yield notes due March 12, 2014 linked to the S&P 500 index and the Russell 2000 index, according to an FWP filing with the Securities and Exchange Commission.
Interest is payable quarterly.
The notes will be called automatically at par plus accrued interest if the indexes close at or above their initial levels on any quarterly observation date beginning June 7.
A knock-in event will occur if either index falls to or below the knock-in level, 75% of the initial level, on any trading day.
If a knock-in event does not occur, the payout at maturity will be par.
If a knock-in event occurs, investors will receive par plus the return of the least-performing index, up to a maximum payout of par.
The notes (Cusip: 22546T3L3) are expected to price March 7 and settle March 12.
Credit Suisse Securities (USA) LLC will be the agent.
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