Credit Suisse to price fixed-to-floaters linked to 10-year CMS rate

By Angela McDaniels

Tacoma, Wash., Nov. 30 – Credit Suisse AG, Nassau Branch plans to price fixed-to-floating-rate notes due Dec. 23, 2025 linked to the 10-year Constant Maturity Swap rate, according to a 424B2 filing with the Securities and Exchange Commission.

The interest rate is 4% for the first two years. After that, the interest rate will be equal to the 10-year CMS rate. Interest is payable quarterly and cannot be less than zero.

The payout at maturity will be par.

Morgan Stanley & Co. LLC is the distributor.

The notes will price Dec. 18.

The Cusip number is 22546VRL2.

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