By Susanna Moon
Chicago, Dec. 23 – Credit Suisse AG, Nassau branch priced $8 million of fixed-to-floating 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.
Interest will be 4% for the first two years. After that, the rate will be equal to the 10-year CMS rate. Interest will be payable quarterly and cannot be less than zero.
The payout at maturity will be par.
Morgan Stanley & Co. LLC is the distributor.
| Issuer: | Credit Suisse AG, Nassau branch
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| Issue: | Fixed-to-floating notes
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| Underlying: | 10-year CMS rate
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| Amount: | $8 million
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| Maturity: | Dec. 23, 2025
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| Coupon: | 4% initially; beginning Dec. 23, 2017, equal to the 10-year CMS rate; payable quarterly
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| Price: | Par
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| Payout at maturity: | Par
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| Pricing date: | Dec. 18
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| Settlement date: | Dec. 23
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| Distributor: | Morgan Stanley & Co. LLC
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| Fees: | 1.25%
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| Cusip: | 22546VRL2
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