Credit Suisse plans high/low coupon callable yield notes linked to S&P 500, Russell 2000 indexes

By Jennifer Chiou

New York, Feb. 29 - Credit Suisse AG, Nassau Branch plans to price high/low coupon callable yield notes due March 27, 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 will occur if either index closes at or below 65% of its initial level during a quarterly observation period.

The coupon will be 8% to 10% per year unless a knock-in event occurs, in which case the coupon will be 1% for that and each subsequent interest period. The exact rates will be set at pricing. Interest will be 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 lower-performing index, up to a maximum payout of par.

The notes will be callable at par on any interest payment date beginning on June 27, 2012.

The notes (Cusip: 22546TNG2) will price on March 22 and settle on March 27.

Credit Suisse Securities (USA) LLC is the underwriter.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.