Published on 10/4/2010 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $1.35 million 8% callable yield notes on Russell 2000, Gold Miners
By Susanna Moon
Chicago, Oct. 4 - Credit Suisse AG, Nassau Branch priced $1.35 million of 8% callable yield notes due Oct. 5, 2011 based on the Russell 2000 index and Market Vectors Gold Miners exchange-traded fund, according to an FWP filing with the Securities and Exchange Commission.
Interest is payable quarterly.
The notes are callable at par on any interest payment date beginning April 5, 2011.
The payout at maturity will be par unless the index or fund falls to or below its knock-in level - 50% of its initial level - during the life of the notes, in which case investors will receive par plus the return of the worse performing component, up to a maximum payout of par.
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: | Russell 2000, Market Vectors Gold Miners exchange-traded fund
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Amount: | $1,345,000
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Maturity: | Oct. 5, 2011
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Coupon: | 8%, payable quarterly
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Price: | Par
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Payout at maturity: | If index or fund falls to or below its knock-in level during the life of the notes, par plus the return of the worse performing component, up to a maximum payout of par; otherwise, par
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Call option: | At par on any interest payment date after six months
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Initial levels: | 676.14 for Russell for $55.93 for Gold Miners
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Knock-in levels: | 338.07 for Russell and $27.965 for Gold Miners; 50% of initial levels
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Pricing date: | Sept. 30
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Settlement date: | Oct. 5
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Agent: | Credit Suisse Securities (USA) LLC
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Fees: | 0.25%
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Cusip: | 22546EZH0
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