Published on 7/2/2010 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse prices $2.89 million 10.25% callable yield notes on S&P 500, Russell 2000
By Jennifer Chiou
New York, July 2 - Credit Suisse AG, Nassau Branch priced $2.89 million of 10.25% callable yield notes due July 6, 2011 linked to the S&P 500 and Russell 2000 indexes, according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable quarterly.
Beginning Jan. 6, 2011, the notes are callable at par on any interest payment date.
The payout at maturity will be par unless either of the underlying indexes falls to or below its knock-in level - 70% of its initial level - during the life of the notes, in which case investors will receive par plus the return of the worse-performing index, up to a maximum payout of par.
Credit Suisse Securities (USA) LLC is the underwriter.
Issuer: | Credit Suisse AG, Nassau Branch
|
Issue: | Callable yield notes
|
Underlying indexes: | S&P 500 and Russell 2000
|
Amount: | $2,888,000
|
Maturity: | July 6, 2011
|
Coupon: | 10.25%, payable quarterly
|
Price: | Par
|
Payout at maturity: | If either index falls to or below its knock-in level during the life of the notes, par plus the return of the worse-performing index, capped at par; otherwise, par
|
Call option: | At par on interest payment dates from Jan. 6, 2011 onward
|
Initial levels: | 1,030.71 for S&P 500 and 609.49 for Russell 2000
|
Knock-in levels: | 721.497 for S&P 500 and 426.643 for Russell 2000; 70% of initial levels
|
Pricing date: | June 30
|
Settlement date: | July 6
|
Underwriter: | Credit Suisse Securities (USA) LLC
|
Fees: | 0.25%
|
Cusip: | 22546EVS0
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.