Published on 7/29/2010 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $1.45 million 10% callable yield notes on S&P 500, Market Vectors Gold
By Marisa Wong
Madison, Wis., July 29 - Credit Suisse AG, Nassau Branch priced $1.45 million of 10% callable yield notes due Aug. 1, 2011 linked to the performance of the S&P 500 index and Market Vectors Gold Miners exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
Interest will be paid quarterly.
The notes are callable in whole at par on any interest payment date beginning Nov. 1.
The payout at maturity will be par unless either underlying component falls to or below its knock-in level - 65% 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 or fund, up to a maximum payout of par.
Credit Suisse Securities (USA) LLC is the underwriter.
| Issuer: | Credit Suisse AG, Nassau Branch
|
| Issue: | Callable yield notes
|
| Underlying components: | S&P 500 index and Market Vectors Gold Miners exchange-traded fund
|
| Amount: | $1,446,000
|
| Maturity: | Aug. 1, 2011
|
| Coupon: | 10%, payable quarterly
|
| Price: | Par
|
| Payout at maturity: | If either underlying component falls to or below its knock-in level during the life of the notes, par plus the return of the worst-performing index or fund, capped at par; otherwise, par
|
| Call option: | At par on interest payment dates from Nov. 1 onward
|
| Initial levels: | 1,113.84 for S&P 500; $47.09 for Market Vectors Gold
|
| Knock-in levels: | 723.996 for S&P 500; $30.6085 for Market Vectors Gold; 65% of initial levels
|
| Pricing date: | July 27
|
| Settlement date: | July 30
|
| Underwriter: | Credit Suisse Securities (USA) LLC
|
| Fees: | 2.25%
|
| Cusip: | 22546EWV2
|
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