Published on 12/2/2010 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $242,000 9% callable yield notes linked to S&P 500, SPDR Metals
By Susanna Moon
Chicago, Dec. 2 - Credit Suisse AG, Nassau Branch priced $242,000 of 9% callable yield notes due June 3, 2011 linked to the S&P 500 index and the SPDR S&P Metals and Mining exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable quarterly.
The payout at maturity will be par unless either underlying component 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 underlying component, capped at a maximum payout of par.
The notes are callable at par on any interest payment date.
Credit Suisse Securities (USA) LLC is the underwriter.
Issuer: | Credit Suisse AG, Nassau Branch
|
Issue: | Callable yield notes
|
Underlying components: S&P 500 index, SPDR S&P Metals and Mining exchange-traded fund
|
Amount: | $242,000
|
Maturity: | June 3, 2011
|
Coupon: | 9%, payable quarterly
|
Price: | Par
|
Payout at maturity: | If either underlying component falls to or below knock-in level, par plus return of worst-performing underlying component, up to maximum payout of par; otherwise, par
|
Call option: | At par on any interest payment date
|
Initial levels: | 1,180.55 for S&P 500 and $61.10 for SPDR Metals
|
Knock-in levels: | 826.385 for S&P 500 and $42.77 for SPDR Metals; 70% of initial levels
|
Pricing date: | Nov. 30
|
Settlement date: | Dec. 3
|
Underwriter: | Credit Suisse Securities (USA) LLC
|
Fees: | 0.25%
|
Cusip: | 22546ED84
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.