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Credit Suisse plans high/low coupon callable notes on two indexes
By Toni Weeks
San Diego, Sept. 29 - Credit Suisse AG, Nassau Branch plans to price high/low coupon callable yield notes due Nov. 5, 2012 linked to the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
A knock-in event will occur if either index closes at or below 60% of its initial level.
The coupon will be 12% to 14% per year unless a knock-in event occurs, in which case the coupon will be 3% per year for that and each subsequent interest period. Interest is payable quarterly.
The payout at maturity will be par unless a knock-in event has occurred, in which case the payout will be par plus the return of the lowest-performing index, up to a maximum payout of par.
The notes are callable at par on any interest payment date beginning May 3, 2012.
Credit Suisse Securities (USA) LLC is the underwriter.
The notes will price on Oct. 31 and settle on Nov. 3.
The Cusip number is 22546TFH9.
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