Published on 3/22/2011 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse prices $2.89 million 8.6% callable yield notes on Russell 2000, gold ETF
By Jennifer Chiou
New York, March 22 - Credit Suisse AG, Nassau Branch priced $2.89 million of 8.6% annualized callable yield notes due Sept. 23, 2011 linked to the Market Vectors Gold Miners exchange-traded fund and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
Interest will be payable on May 23, July 23 and at maturity.
The payout at maturity will be par unless either component falls to or below its knock-in level - 74% of its initial level - during the life of the notes, in which case investors will receive par plus the return of the worst-performing component, up to a maximum payout of par.
The notes are callable on any interest payment date.
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: | Market Vectors Gold Miners exchange-traded fund and Russell 2000 index
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Amount: | $2,886,000
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Maturity: | Sept. 23, 2011
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Coupon: | 8.6%, payable on May 23, July 23 and at maturity
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Price: | Par
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Payout at maturity: | If either component falls to or below its knock-in level during the life of the notes, par plus the return of the worst-performing component, up to a maximum payment of par; otherwise, par
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Call option: | At par on any interest payment date
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Initial levels: | $56.66 for Gold Miners; 794.66 for Russell
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Knock-in levels: | $41.9284 for Gold Miners; 588.0484 for Russell; 74% of initial levels
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Pricing date: | March 18
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Settlement date: | March 23
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Agent: | Credit Suisse Securities (USA) LLC
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Fees: | 1.5%
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Cusip: | 22546E2J2
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