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Credit Suisse plans 8.75% callable notes on SPDR Metals, Gold Miners
By Susanna Moon
Chicago, Nov. 15 - Credit Suisse AG, Nassau Branch plans to price 8.75% annualized callable yield notes due May 19, 2011 based on the SPDR S&P Metals & Mining exchange-traded fund and the Market Vectors Gold Miners ETF, according to a 424B2 filing with the Securities and Exchange Commission.
Interest will be payable monthly.
The payout at maturity will be par unless either fund falls to or below its knock-in level - 75% of its initial level - during the life of the notes, in which case investors will receive par plus the return of the worst-performing fund, capped at a maximum payout of par.
The notes will be callable at par on any interest payment date beginning Jan. 19.
The notes (Cusip 22546EJ39) are expected to price Nov. 16 and settle Nov. 19.
Credit Suisse Securities (USA) LLC is the underwriter.
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