Credit Suisse plans fixed-to-floating notes linked to 10-year CMS rate

By Angela McDaniels

Tacoma, Wash., March 4 – Credit Suisse AG, Nassau Branch plans to price fixed-to-floating-rate notes due March 30, 2026 linked to the 10-year Constant Maturity Swap rate, according to a 424B2 filing with the Securities and Exchange Commission.

The interest rate will be 5% 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 will be payable quarterly.

The payout at maturity will be par.

Incapital LLC is the agent.

The notes will price March 28.

The Cusip number is 22546VYQ3.

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