Published on 9/2/2010 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse prices $1.17 million 6% callable yield notes on S&P 500
By Jennifer Chiou
New York, Sept. 2 - Credit Suisse AG, Nassau Branch priced $1.17 million of 6% callable yield notes due Sept. 6, 2011 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable quarterly.
If the index closes at or below the knock-in level - 60% of its initial level - during the life of the notes, the payout at maturity will be par plus the index return, subject to a maximum payout of par. Otherwise, the payout will be par.
The notes are callable at par on any interest payment date beginning on March 6, 2011.
Credit Suisse Securities (USA) LLC is the underwriter.
Issuer: | Credit Suisse AG, Nassau Branch
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Issue: | Callable yield notes
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Underlying index: | S&P 500
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Amount: | $1,168,000
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Maturity: | Sept. 6, 2011
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Coupon: | 6%, payable quarterly
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Price: | Par
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Payout at maturity: | If index closes at or below knock-in level during life of notes, par plus index return, up to maximum payout of par; otherwise, par
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Call option: | At par on any interest payment date beginning on March 6, 2011
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Initial index level: | 1,049.33
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Knock-in level: | 629.598, 60% of initial level
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Pricing date: | Aug. 31
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Settlement date: | Sept. 3
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Underwriter: | Credit Suisse Securities (USA) LLC
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Fees: | Up to 0.6%
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Cusip: | 22546EXY5
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