New Issue: Credit Suisse sells $325,000 11.25% bearish callable yield notes on S&P, Russell

By Marisa Wong

Madison, Wis., Oct. 4 - Credit Suisse AG, Nassau Branch priced $325,000 of 11.25% bearish callable yield notes due Oct. 5, 2012 linked to the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.

Interest will be payable quarterly.

A knock-in event will occur if either index closes at or above 125% of its initial level during the life of the notes.

If a knock-in event does not occur, the payout at maturity will be par. Otherwise, investors will share in losses relative to the performance of the better-performing index. Therefore, unless the final level of each index is at or less than its initial level, investors will lose some or all of their holdings.

The notes will be callable at par on any interest payment date beginning Jan. 5.

Credit Suisse Securities (USA) LLC is the underwriter.

Issuer:	Credit Suisse AG, Nassau Branch
Issue:	Bearish callable yield notes
Underlying indexes:	S&P 500, Russell 2000
Amount:	$325,000
Maturity:	Oct. 5, 2012
Coupon:	11.25%, payable quarterly
Price:	Par
Payout at maturity:	If index does not close at or above knock-in level, par; otherwise, investors will share in losses relative to performance of better-performing index
Call option:	At par on interest payment date beginning Jan. 5
Initial levels:	1,131.42 for S&P, 644.16 for Russell
Knock-in levels:	1,414.275 for S&P, 805.2 for Russell; 125% of initial levels
Pricing date:	Sept. 30
Settlement date:	Oct. 5
Agent:	Credit Suisse Securities (USA) LLC
Fees:	None
Cusip:	22546TFC0

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