Published on 6/23/2009 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse prices $11.5 million knock-out notes linked to basket of Asian indexes
By Angela McDaniels
Tacoma, Wash., June 23 - Credit Suisse, Nassau Branch priced $11.5 million of 0% index knock-out notes due Dec. 23, 2010 linked to a basket of indexes, according to a 424B2 filing with the Securities and Exchange Commission.
J.P. Morgan Securities Inc. and JPMorgan Chase Bank, NA are the agents.
The basket consists of the Hang Seng China Enterprises index with a 34% weight, the MSCI Taiwan index with a 22% weight, the Korea Stock Price Index 200 with a 21% weight, the Hang Seng index with a 15% weight and the MSCI Singapore index with an 8% weight.
If the basket closes below 70% of its initial level on any day during the life of the notes, the payout at maturity will be par plus the basket return. Otherwise, the payout will be par plus the greater of the basket return and 3.5%.
| Issuer: | Credit Suisse, Nassau Branch
|
| Issue: | Index knock-out notes
|
| Underlying indexes: | Hang Seng China Enterprises (34% weight), MSCI Taiwan (22% weight), Korea Stock Price Index 200 (21% weight), Hang Seng (15% weight) and MSCI Singapore (8% weight)
|
| Amount: | $11,496,000
|
| Maturity: | Dec. 23, 2010
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If basket closes below 70% of initial level on any day during life of notes, par plus basket return; otherwise, par plus greater of basket return and 3.5%
|
| Initial index levels: | 10,509.85 for Hang Seng China Enterprises; 226.41 for MSCI Taiwan; 176.63 for Kospi 200; 17,920.93 for Hang Seng; 274.52 for MSCI Singapore
|
| Pricing date: | June 19
|
| Settlement date: | June 24
|
| Agents: | J.P. Morgan Securities Inc. and JPMorgan Chase Bank, NA
|
| Fees: | 1.25%
|
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