Credit Suisse plans high/low coupon callable notes tied to index, fund

By Susanna Moon

Chicago, July 1 - Credit Suisse AG, Nassau Branch plans to price high/low coupon callable yield notes due Jan. 30, 2015 linked to the Russell 2000 index and the United States Oil Fund, LP, according to a 424B2 filing with the Securities and Exchange Commission.

A knock-in event will occur if either underlying component ever closes at or below its 65% knock-in level during the life of the notes.

The coupon will be 8% to 10% per year unless a knock-in event occurs, in which case the coupon will be 1% per year for that and each subsequent quarterly interest period. Interest will be payable quarterly. The exact coupon rate will be set at pricing.

The payout at maturity will be par unless a knock-in event has occurred, in which case the payout will be par plus the return of the lowest performing component, up to a maximum payout of par.

The notes are callable at par on any interest payment date.

Credit Suisse Securities (USA) LLC is the underwriter.

The notes will price on July 26 and settle on July 31.

The Cusip number is 22547Q4X1.

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