Published on 2/25/2011 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse prices $201,000 8% callable yield notes linked to S&P 500, mining ETF
By Angela McDaniels
Tacoma, Wash., Feb. 25 - Credit Suisse AG, Nassau Branch priced $201,000 of 8% annualized callable yield notes due Aug. 29, 2011 linked to the S&P 500 index and the SPDR S&P Metals & Mining exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable on April 29, June 29 and at maturity.
The payout at maturity will be par unless either component falls to or below its knock-in level - 80% 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
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Issue: | Callable yield notes
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Underlying components: | S&P 500 index and SPDR S&P Metals & Mining exchange-traded fund
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Amount: | $201,000
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Maturity: | Aug. 29, 2011
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Coupon: | 8%, payable April 29, June 29 and at maturity
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Price: | Par
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Payout at maturity: | If either component 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
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Call option: | At par on any interest payment date
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Initial levels: | 1,307.40 for index and $70.14 for ETF
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Knock-in levels: | 1,045.92 for index and $56.112 for ETF; 80% of initial levels
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Pricing date: | Feb. 23
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Settlement date: | Feb. 28
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Agent: | Credit Suisse Securities (USA) LLC
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Fees: | 1.5%
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Cusip: | 22546ET87
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