New Issue: Credit Suisse prices $133,000 11.5% callable yield notes linked to silver, gold funds

By Susanna Moon

Chicago, May 27 - Credit Suisse AG, Nassau Branch priced $133,000 of 11.5% annualized callable yield notes due Nov. 30, 2011 linked to the iShares Silver Trust and the Market Vectors Gold Miners exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.

Interest will be payable on July 29, Sept. 30 and the maturity date.

The payout at maturity will be par unless either fund falls to or below its knock-in level - 77.5% 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 at par on any interest payment date.

Credit Suisse Securities (USA) LLC is the agent.

Issuer:	Credit Suisse AG, Nassau Branch
Issue:	Callable yield notes
Underlying components:	iShares Silver Trust, Market Vectors Gold Miners ETF
Amount:	$133,000
Maturity:	Nov. 30, 2011
Coupon:	11.5%, payable July 29, Sept. 30 and maturity date
Price:	Par
Payout at maturity:	If either fund falls to or below its knock-in level during the life of the notes, par plus the return of the worst-performing component, capped at par; otherwise, par
Call option:	At par on any interest payment date
Initial levels:	$36.95 for silver fund, $57.08 for gold fund
Knock-in levels:	$28.6363 for silver fund, $44.237 for gold fund; 77.5% of initial levels
Pricing date:	May 25
Settlement date:	May 31
Agent:	Credit Suisse Securities (USA) LLC
Fees:	1.5%
Cusip:	22546E5J9

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