Published on 5/18/2011 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse prices $686,000 7.2% callable yield notes on S&P, Russell
By Susanna Moon
Chicago, May 18 - Credit Suisse AG, Nassau branch priced $686,000 of 7.2% callable yield notes due May 21, 2012 linked to the S&P 500 index and Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
Interest will be payable monthly.
The payout at maturity will be par unless either index falls to or below its knock-in level - 80% 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, up to a maximum payout of par.
The notes are callable at par on any interest payment date after three months.
Credit Suisse Securities (USA) LLC is the agent.
| Issuer: | Credit Suisse AG, Nassau branch
|
| Issue: | Callable yield notes
|
| Underlying indexes: | S&P 500 and Russell 2000
|
| Amount: | $686,000
|
| Maturity: | May 21, 2012
|
| Coupon: | 7.2%, payable monthly
|
| Price: | Par
|
| Payout at maturity: | If either index falls to or below its knock-in level during the life of the notes, par plus the return of the worst-performing index, capped at par; otherwise, par
|
| Call option: | At par on any interest payment date beginning on Aug. 22
|
| Initial levels: | 1,329.47 for S&P 500, 822.91 for Russell
|
| Knock-in levels: | 1,063.576 for S&P 500, 658.328 for Russell; 80% of initial levels
|
| Pricing date: | May 16
|
| Settlement date: | May 19
|
| Agent: | Credit Suisse Securities (USA) LLC
|
| Fees: | 2.25%
|
| Cusip: | 22546E6K5
|
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