Published on 7/5/2011 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse prices $962,000 9.25% callable yield notes linked to gold fund, two indexes
By Susanna Moon
Chicago, July 5 - Credit Suisse AG, Nassau Branch priced $962,000 of 9.25% annualized callable yield notes due Jan. 6, 2012 linked to the S&P 500 index, the Russell 2000 index and the Market Vectors Gold Miners exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
Interest will be payable on Sept. 6, Nov. 7 and at maturity.
The payout at maturity will be par unless any underlying component falls to or below its knock-in level - 75% of its initial level - during the life of the notes, in which case investors will receive par plus the return of the worst-performing component, up to a maximum payout of par.
The notes are callable at par on any interest payment date.
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 components: | S&P 500 index, Russell 2000 index, Market Vectors Gold Miners ETF
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Amount: | $962,000
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Maturity: | Jan. 6, 2012
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Coupon: | 9.25%, payable Sept. 6, Nov. 7 and at maturity
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Price: | Par
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Payout at maturity: | If any component dips to or below its knock-in level during the life of the notes, par plus the return of the worst-performing component, capped at par; otherwise, par
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Call option: | At par on any interest payment date
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Initial levels: | 1,320.64 for S&P, 827.43 for Russell, $54.59 for gold fund
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Knock-in levels: | 990.4800 for S&P, 620.5725 for Russell, $40.9425 for gold fund; 75% of initial levels
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Pricing date: | June 30
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Settlement date: | July 6
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Agent: | Credit Suisse Securities (USA) LLC
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Fees: | 0.25%
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Cusip: | 22546E7M0
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