Published on 1/13/2011 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $1.76 million 8.1% callable yield notes on Brazil, metals ETFs
By Marisa Wong
Madison, Wis., Jan. 13 - Credit Suisse AG, Nassau Branch priced $1.76 million of 8.1% callable yield notes due Jan. 17, 2012 based on the iShares MSCI Brazil index fund and the SPDR S&P Metals and Mining exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable quarterly.
The payout at maturity will be par unless either underlying component falls to or below its knock-in level - 65% of its initial level - during the life of the notes, in which case investors will receive par plus the return of the lower-performing underlying component, capped at a maximum payout of par.
The notes are callable at par on any interest payment date beginning on April 17.
Credit Suisse Securities (USA) LLC is the underwriter.
Issuer: | Credit Suisse AG, Nassau Branch
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Issue: | Callable yield notes
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Underlying ETFs: | iShares MSCI Brazil index fund, SPDR S&P Metals and Mining ETF
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Amount: | $1,763,000
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Maturity: | Jan. 17, 2012
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Coupon: | 8.1%, payable quarterly
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Price: | Par
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Payout at maturity: | If either underlying component falls to or below its knock-in level, par plus return of lower-performing underlying, up to maximum payout of par; otherwise, par
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Call option: | At par on any interest payment date beginning on April 17
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Initial levels: | $76.93 for MSCI Brazil and $70.92 for SPDR Metals
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Knock-in levels: | $50.0045 for MSCI Brazil and $46.098 for SPDR Metals; 65% of initial levels
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Pricing date: | Jan. 11
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Settlement date: | Jan. 14
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Underwriter: | Credit Suisse Securities (USA) LLC
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Fees: | 2.25%
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Cusip: | 22546EQ31
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