By Angela McDaniels
Tacoma, Wash., Feb. 9 – Credit Suisse AG, Nassau Branch priced $2 million of fixed-to-floating-rate notes due Feb. 10, 2026 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 three years. After that, the interest rate will be equal to the 10-year CMS rate, subject to a minimum of zero. Interest is payable quarterly.
The payout at maturity will be par.
Incapital LLC is the agent.
Issuer: | Credit Suisse AG, Nassau Branch
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Issue: | Fixed-to-floating-rate notes
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Underlying rate: | 10-year Constant Maturity Swap rate
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Amount: | $2 million
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Maturity: | Feb. 10, 2026
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Coupon: | 4% for first three years; after that, 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: | Feb. 5
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Settlement date: | Feb. 10
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Agent: | Incapital LLC
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Fees: | 1.25%
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Cusip: | 22546VUX2
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