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Credit Suisse plans one-year 6% callable yield notes linked to S&P 500
By Susanna Moon
Chicago, July 30 - Credit Suisse AG, Nassau Branch plans to price 6% callable yield notes due Aug. 31, 2011 based on the performance of the S&P 500 index, according to an FWP filing with the Securities and Exchange Commission.
Interest will be payable quarterly.
A trigger event occurs if the index falls to or below 70% of its initial level on any trading day during the life of the notes.
If a trigger event occurs, the payout at maturity will be par plus the index return, up to a maximum payout of par.
If a trigger event does not occur, investors will receive par.
The notes are callable on any interest payment date.
The notes (Cusip 22546EYD0) are expected to price on Aug. 26 and settle on Aug. 31.
Credit Suisse Securities (USA) LLC is the underwriter.
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