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Credit Suisse plans 10% to 12.5% bearish callable yield notes linked to S&P 500, Russell 2000
By Jennifer Chiou
New York, Sept. 16 - Credit Suisse AG, Nassau Branch plans to price 10% to 12.5% bearish callable yield notes due Oct. 5, 2012 linked to the S&P 500 and the Russell 2000 indexes, according to a 424B2 filing with the Securities and Exchange Commission.
Interest will be payable quarterly.
A knock-in event will occur if either index closes at or above 125% of its initial level during the life of the notes.
If a knock-in event does not occur, the payout at maturity will be par. Otherwise, investors will share in losses relative to the performance of the better-performing index. Therefore, unless the final level of each index is at or less than its initial level, investors will lose some or all of their holdings.
The notes will be callable at par on any interest payment date beginning on Jan. 5, 2012.
The notes (Cusip: 22546TFC0) are expected to price on Sept. 30 and settle on Oct. 5.
Credit Suisse Securities (USA) LLC is the underwriter.
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