Credit Suisse plans high/low coupon callable notes tied to S&P, Russell

By Angela McDaniels

Tacoma, Wash., Nov. 18 - Credit Suisse AG, Nassau Branch plans to price high/low coupon callable yield notes due Dec. 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.

A knock-in event occurs if either index closes at or below its knock-in level, 65% of its initial level, on any day during the life of the notes.

If a knock-in event does not occur during a quarterly observation period, the coupon will be 14% to 16% per year for that period. If a knock-in event occurs during a quarterly observation period, the coupon for that interest period and each subsequent quarterly interest period is expected to be 3% per year. The exact percentages will be set at pricing. Interest is payable quarterly.

The payout at maturity will be par unless a knock-in event occurs, in which case investors will receive par plus the return of the worst-performing index, up to a maximum payout of par.

The notes are callable at par on any interest payment date.

The notes (Cusip: 22546THJ3) are expected to price Nov. 30 and settle Dec. 5.

Credit Suisse Securities (USA) LLC is the agent.

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