Credit Suisse plans high/low coupon callable notes linked to two funds

By Angela McDaniels

Tacoma, Wash., Aug. 29 - Credit Suisse AG, Nassau Branch plans to price high/low coupon callable yield notes due March 30, 2015 linked to the United States Oil Fund, LP and the Market Vectors Gold Miners exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.

A knock-in event will occur if either underlying component closes at or below its knock-in level, 55% of its initial price, during the life of the notes.

The coupon will be 9% to 11% per year unless a knock-in event occurs, in which case the coupon will be 1% per year for that and each subsequent quarterly interest period. Interest will be payable quarterly. The exact coupon rate will be set at pricing.

The payout at maturity will be par unless a knock-in event has occurred, in which case the payout will be par plus the return of the lowest-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 underwriter.

The notes will price Sept. 25 and settle Sept. 30.

The Cusip number is 22547QAK2.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.