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Credit Suisse plans 10.75%-12.75% callable yield notes on S&P 500, Market Vectors Gold Miners
By Marisa Wong
Milwaukee, June 30 - Credit Suisse AG, Nassau Branch plans to price 10.75% to 12.75% callable yield notes due Aug. 1, 2011 linked to the S&P 500 index and the Market Vectors Gold Miners exchange-traded fund, according to an FWP filing with the Securities and Exchange Commission.
Interest will be payable quarterly.
A knock-in event occurs if either underlying component falls to or below 70% of its initial level on any trading day during the life of the notes.
If a knock-in event occurs, the payout at maturity will be par plus the return of the worse performing underlying component, capped at a maximum payout of par.
If a knock-in event does not occur, investors will receive par.
The notes will be callable in whole at par on any interest payment date beginning Nov. 1.
The notes are expected to price July 27 and settle July 30.
Credit Suisse Securities (USA) LLC is the underwriter.
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