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Credit Suisse to price 9.5%-11.5% bearish callable yield notes tied to S&P 500, Russell 2000
By Angela McDaniels
Tacoma, Wash., July 16 - Credit Suisse AG, Nassau Branch plans to price 9.5% to 11.5% bearish callable yield notes due Aug. 4, 2011 linked to the S&P 500 index and the Russell 2000 index, according to an FWP filing with the Securities and Exchange Commission.
Interest is payable quarterly.
The payout at maturity will be par unless either index closes at or above 125% of its initial level during the life of the notes, in which case the payout will be par plus the absolute value of the higher of the two index returns, subject to a maximum payout of par.
Beginning Feb. 4, 2011, the notes will be called at par on any interest payment date.
The notes are expected to price July 30 and settle Aug. 4.
Credit Suisse Securities (USA) LLC is the underwriter.
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