Credit Suisse to price high/low coupon callable yield notes linked to S&P 500, Russell 2000

By Jennifer Chiou

New York, Nov. 29 - Credit Suisse AG, Nassau Branch plans to price high/low coupon callable yield notes due Dec. 28, 2011 linked to the S&P 500 and Russell 2000 indexes, according to a 424B2 with the Securities and Exchange Commission.

A knock-in event will occur if either index closes at or below 70% of its initial level.

Interest will be payable quarterly. The coupon will be 10% to 12% per year unless a knock-in event occurs, in which case the coupon will be 4% per year for that and each subsequent quarter.

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 lower-performing index, up to a maximum payout of par.

Beginning June 28, 2011, the notes will be callable at par on any interest payment date.

The notes (Cusip: 22546EK94) are expected to price on Dec. 22 and settle on Dec. 28.

Credit Suisse Securities (USA) LLC is the underwriter.

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