Published on 5/2/2012 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse prices $1 million 7.5% callable yield notes tied to S&P 500, Russell
By Susanna Moon
Chicago, May 2 - Credit Suisse AG, Nassau Branch priced $1 million of 7.5% callable yield notes due May 2, 2013 linked to the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable monthly.
The notes are callable at par on any interest payment date.
The payout at maturity will be par unless either index falls to or below the 55% knock-in level during the life of the notes, in which case investors will receive par plus the return of the worst-performing index, up to a maximum payout of par.
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 indexes: | S&P 500 and Russell 2000
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Amount: | $1 million
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Maturity: | May 2, 2013
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Coupon: | 7.5%, payable monthly
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Price: | Par
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Payout at maturity: | Par, unless either index ever falls to or below knock-in level, in which case par plus return of worst-performing index, capped at par
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Initial levels: | 1,403.36 for S&P, 825.47 for Russell
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Knock-in levels: | 771.848 for S&P, 454.0085 for Russell; 55% of initial levels
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Call option: | At par on any interest payment date
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Pricing date: | April 27
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Settlement date: | May 2
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Agent: | Credit Suisse Securities (USA) LLC
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Fees: | 0.25%
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Cusip: | 22546TTA9
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