Published on 7/25/2011 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse prices $1.27 million 9% callable yield notes tied to Russell, two funds
By Jennifer Chiou
New York, July 25 - Credit Suisse AG, Nassau Branch priced $1.27 million of 9% annualized callable yield notes due Jan. 26, 2012 linked to the Russell 2000 index, the U.S. Natural Gas Fund, LP, and the Market Vectors Gold Miners exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable monthly.
The notes are callable at par on any interest payment date beginning on Sept. 26, 2011.
The payout at maturity will be par unless any component falls to or below its knock-in level - 70% 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.
Credit Suisse Securities (USA) LLC is the agent.
Issuer: | Credit Suisse AG, Nassau Branch
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Issue: | Callable yield notes
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Underlying components: | Russell 2000 index, U.S. Natural Gas Fund, LP, Market Vectors Gold Miners exchange-traded fund
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Amount: | $1.27 million
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Maturity: | Jan. 26, 2012
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Coupon: | 9%, payable monthly
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Price: | Par
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Payout at maturity: | Par, unless any component falls to or below 70% of its initial level during life of notes, in which case par plus return of worst-performing component, maximum of par
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Initial levels: | 841.26 for Russell, $11.01 for gas fund, $60.13 for gold fund
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Knock-in levels: | 588.882 for Russell, $7.707 for gas fund, $42.091 for gold fund; 70% of initial levels
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Call option: | At par on any interest payment date beginning on Sept. 26, 2011
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Pricing date: | July 21
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Settlement date: | July 26
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Agent: | Credit Suisse Securities (USA) LLC
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Fees: | 1.5%
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Cusip: | 22546TBV2
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