Credit Suisse amends terms for CS notes tied to euro and Swedish krona

By Toni Weeks

San Diego, July 18 - Credit Suisse AG, Nassau Branch amended the terms for its offering of 0% CS notes linked to the euro and the Swedish krona relative to the dollar, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will mature Oct. 24, 2011. The previous maturity date was Oct. 21, 2011.

The reference rates are the euro/dollar and dollar/krona spot rates. Investors will receive a positive return on their investment only if the euro depreciates relative to the dollar and the Swedish krona appreciates relative to the dollar.

If the final spot rate for each currency is less than the initial rate, the payout at maturity will be par plus 10% to 11%. The exact maximum return will be set at pricing. Previously, it was set at 10%.

If the final spot rate for either currency is greater than or equal to the initial rate, investors will receive 98% of par.

The notes (Cusip: 22546TBY6) are now expected to price on July 19 and settle on July 21. Previously, the notes were expected to price July 18 and settle July 20.

J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA are the agents.

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