Published on 11/2/2010 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse prices $1.06 million 9.5% callable yield notes on S&P 500, Russell 2000
By Jennifer Chiou
New York, Nov. 2 - Credit Suisse AG, Nassau Branch priced $1.06 million of 9.5% callable yield notes due Nov. 3, 2011 linked to the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable quarterly.
Beginning May 3, 2011, the notes are callable at par on any interest payment date.
The payout at maturity will be par unless either index falls to or below its knock-in level - 70% of its initial level - during the life of the notes, in which case investors will receive par plus the return of the worst-performing index, up to a maximum payout of par.
Credit Suisse Securities (USA) LLC is the agent.
Issuer: | Credit Suisse AG, Nassau Branch
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Issue: | Callable yield notes
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Underlying indexes: | S&P 500 and Russell 2000
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Amount: | $1,057,000
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Maturity: | Nov. 3, 2011
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Coupon: | 9.5%, payable quarterly
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Price: | Par
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Payout at maturity: | If either index falls to or below its knock-in level during the life of the notes, par plus the return of the worst-performing index, up to a maximum payout of par; otherwise, par
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Call option: | At par on any interest payment date from May 3, 2011 onward
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Initial levels: | 1,183.26 for S&P 500 and 703.35 for Russell 2000
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Knock-in levels: | 828.282 for SP 500 and 492.345 for Russell 2000; 70% of initial levels
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Pricing date: | Oct. 29
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Settlement date: | Nov. 3
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Agent: | Credit Suisse Securities (USA) LLC
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Fees: | None
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Cusip: | 22546EZS6
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