By Marisa Wong
Morgantown, W.Va., Oct. 19 – Credit Suisse AG, Nassau Branch priced $20.4 million of fixed-to-floating notes due Oct. 20, 2026 linked to the 10-year U.S. dollar ICE swap rate, according to a 424B2 filing with the Securities and Exchange Commission.
The interest rate will be 4% for the first three years. After that, the interest rate will be equal to the 10-year dollar ICE swap rate. Interest will be payable quarterly and cannot be less than zero.
The payout at maturity will be par.
Incapital LLC is the placement agent.
| Issuer: | Credit Suisse AG, Nassau Branch
|
| Issue: | Fixed-to-floating notes
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| Underlying: | 10-year U.S. dollar ICE swap rate
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| Amount: | $20.4 million
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| Maturity: | Oct. 20, 2026
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| Coupon: | 4% for the first three years; after that, 10-year dollar ICE swap rate, floor of zero; payable quarterly
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| Price: | Par
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| Payout at maturity: | Par
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| Pricing date: | Oct. 17
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| Settlement date: | Oct. 20
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| Agent: | Incapital LLC
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| Fees: | 2.103%
|
| Cusip: | 22548QL37
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