By Tali Rackner
Norfolk, Va., April 28 – Credit Suisse AG, Nassau Branch priced $2 million of 0% fixed-to-floating notes due April 28, 2026 linked to the 10-year Constant Maturity Swap rate, according to a 424B2 filing with the Securities and Exchange Commission.
The coupon will be fixed at 5% for the first three years. After that, interest 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.
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: | April 28, 2026
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| Coupon: | 5% for first three years; after that, 10-year CMS rate; payable quarterly
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| Price: | Par of $1,000
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| Payout at maturity: | Par
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| Pricing date: | April 25
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| Settlement date: | April 28
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| Agent: | Incapital LLC
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| Fees: | 1.75%
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| Cusip: | 22548Q2Q7
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