Credit Suisse to sell high/low coupon callable notes on S&P, Russell

By Marisa Wong

Madison, Wis., Feb. 1 - Credit Suisse AG, Nassau Branch plans to price high/low coupon callable yield notes due Feb. 8, 2013 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 either underlying index falls to or below 65% of its initial level during a quarterly observation period.

If a knock-in event never occurs, the coupon will be 7.5%. If a knock-in event occurs during any quarterly observation period, the coupon for that interest period and each subsequent interest period will be 1%. Interest is payable quarterly.

The notes are callable on any interest payment date beginning on May 8.

If a knock-in event occurs, the payout at maturity will be par plus the return of the worse-performing index, up to a maximum payout of par. If a knock-in event does not occur, investors will receive par.

The notes (Cusip: 22546TMH1) will price on Feb. 3 and settle on Feb. 7.

Credit Suisse Securities (USA) LLC is the agent.

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