Published on 2/2/2011 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse prices $151,000 10% callable yield notes on metals ETFs
By Jennifer Chiou
New York, Feb. 2 - Credit Suisse AG, Nassau Branch priced $151,000 of 10% annualized callable yield notes due Aug. 3, 2011 linked to the Market Vectors Gold Miners exchange-traded fund and the SPDR S&P Metals & Mining ETF, according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable on April 3, June 3 and at maturity.
The payout at maturity will be par unless either underlying ETF closes below its trigger price - 72.5% of its initial share price - during the life of the notes, in which case the payout will be par plus the return of the worst-performing ETF, subject to a maximum payout of par.
The notes are callable at par on any interest payment date.
Credit Suisse Securities (USA) LLC is the agent.
| Issuer: | Credit Suisse AG, Nassau Branch
|
| Issue: | Callable yield notes
|
| Underlying ETFs: Market Vectors Gold Miners ETF and SPDR S&P Metals & Mining ETF
|
| Amount: | $151,000
|
| Maturity: | Aug. 3, 2011
|
| Coupon: | 10%, payable on April 3, June 3 and at maturity
|
| Price: | Par
|
| Payout at maturity: | If either underlying ETF closes below its trigger price during the life of the notes, par plus the return of the worst-performing ETF, subject to a maximum payout of par; otherwise, par
|
| Call option: | At par on any interest payment date
|
| Initial share prices: | $53.92 for Market Vectors Gold and $68.97 for SPDR S&P Metals & Mining
|
| Trigger price: | $39.092 for Market Vectors Gold and $50.0033 for SPDR S&P Metals & Mining, 72.5% of initial share prices
|
| Pricing date: | Jan. 31
|
| Settlement date: | Feb. 3
|
| Agent: | Credit Suisse Securities (USA) LLC
|
| Fees: | 0.25%
|
| Cusip: | 22546EF58
|
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