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Credit Suisse plans 10%-12% callable yield notes on S&P 500, Market Vectors Gold Miners ETF
By Jennifer Chiou
New York, Sept. 2 - Credit Suisse AG, Nassau Branch plans to price 10% to 12% callable yield notes due Sept. 30, 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 payout of par.
If a knock-in event does not occur, investors will receive par.
The notes are callable on any interest payment date beginning on Dec. 30, 2010.
The notes (Cusip 22546EYU2) are expected to price on Sept. 27 and settle on Sept. 30.
Credit Suisse Securities (USA) LLC is the underwriter.
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