Credit Suisse plans high/low coupon callable notes on S&P 500, Russell

By Susanna Moon

Chicago, Nov. 29 - Credit Suisse AG, Nassau Branch plans to price high/low coupon callable yield notes due July 7, 2014 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 occurs if any underlying component falls to or below 65% of its initial level during the life of the notes.

If a knock-in event never occurs, the coupon will be 8% to 9%, with the exact rate to be set at pricing. If a knock-in event occurs during any quarterly observation period, the coupon for that interest period and each subsequent interest period is 1%. Interest is payable quarterly.

The notes are callable at par on any quarterly review date.

The payout at maturity will be par unless any component falls to or below its knock-in 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.

Credit Suisse Securities (USA) LLC is the agent.

The notes will price on Dec. 31 and settle on Jan. 4.

The Cusip number is 22546TL66.

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