Credit Suisse plans 8%-10% callable yield notes on S&P 500, Russell

By Marisa Wong

Madison, Wis., Aug. 18 - Credit Suisse AG, Nassau Branch plans to price 8% to 10% callable yield notes due Sept. 26, 2011 linked to the performance of the S&P 500 index and the Russell 2000 index, according to an FWP filing with the Securities and Exchange Commission.

Interest will be payable quarterly. The exact coupon will be set at pricing.

Beginning Dec. 26, the notes are callable at par on any interest payment date.

If the notes are not called, the payout at maturity will be par unless the final level of either underlying component is at or below its knock-in level - 70% of its initial level - in which case investors will receive par plus the return of the worse-performing underlying component.

The notes (Cusip: 22546EYP3) are expected to price on Sept. 17 and settle on Sept. 24.

Credit Suisse Securities (USA) LLC is the underwriter.

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