Published on 2/4/2011 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse prices $15,000 additional 9% callable yield notes linked to metals, gold ETFs
By Angela McDaneils
Tacoma, Wash., Feb. 4 - Credit Suisse AG, Nassau Branch priced an additional $15,000 of 9% annualized callable yield notes due July 29, 2011 linked to the SPDR S&P Metals & Mining exchange-traded fund and the Market Vectors Gold Miners ETF, according to a 424B8 filing with the Securities and Exchange Commission.
The notes priced at par and bring the issue size to $1.56 million.
Interest is payable March 29, May 29 and at maturity.
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 component, up 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 components: | SPDR S&P Metals & Mining exchange-traded fund and Market Vectors Gold Miners ETF
|
| Amount: | $1,556,000, increased from $1,541,000
|
| Maturity: | July 29, 2011
|
| Coupon: | 9%, payable March 29, May 29 and at maturity
|
| Price: | Par
|
| Payout at maturity: | If either fund falls to or below its knock-in level during the life of the notes, par plus the return of the worst-performing component, up to a maximum payout of par; otherwise, par
|
| Call option: | At par on any interest payment date
|
| Initial share prices: | $69.68 for SPDR Metals and $55.10 for Gold Miners
|
| Knock-in levels: | $52.26 for SPDR Metals and $41.325 for Gold Miners; 75% of initial prices
|
| Pricing dates: | Jan. 26 for $1,541,000; Feb. 4 for $15,000
|
| Settlement dates: | Jan. 31 for $1,541,000; Feb. 7 for $15,000
|
| Agent: | Credit Suisse Securities (USA) LLC
|
| Fees: | 1.5% for original issue; 1.25% for add-on
|
| Cusip: | 22546EN34
|
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