Published on 10/27/2011 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse prices $89,000 8.25% callable yield notes tied to S&P 500, Russell 2000
By Toni Weeks
San Diego, Oct. 27 - Credit Suisse AG, Nassau Branch priced $89,000 of 8.25% callable yield notes due Oct. 31, 2012 linked to the lesser performing of the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable quarterly.
The notes are callable at par on any interest payment date.
The payout at maturity will be par unless either index falls by 35% or more of the initial level during the life of the notes, in which case investors will receive par plus the return of the worst-performing index, up to a maximum payout of par.
Credit Suisse Securities (USA) LLC is the agent.
Issuer: | Credit Suisse AG, Nassau Branch
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Issue: | Callable yield notes
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Underlying indexes: | S&P 500 and Russell 2000
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Amount: | $89,000
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Maturity: | Oct. 31, 2012
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Coupon: | 8.25% per year, payable quarterly
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Price: | Par
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Payout at maturity: | Par, unless either index falls by 35% or more during life of notes, in which case par plus return of worst-performing index, up to maximum payout of par
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Initial levels: | 1,242 for S&P, 727.15 for Russell
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Knock-in level: | 807.3 for S&P, 472.6475 for Russell; 65% of initial levels
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Call option: | At par on any quarterly interest payment date
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Pricing date: | Oct. 26
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Settlement date: | Oct. 28
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Agent: | Credit Suisse Securities (USA) LLC
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Fees: | 2.25%
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Cusip: | 22546TFK2
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