By Toni Weeks
San Luis Obispo, Calif., May 27 - Credit Suisse AG, Nassau Branch priced $1 million of callable step-up securities due May 28, 2026, according to a 424B2 filing with the Securities and Exchange Commission.
The interest rate is 3% for the first five years, stepping up to 4% on May 28, 2019 and to 6% on May 28, 2024. Interest is payable semiannually.
The payout at maturity will be par.
The notes are callable at par on any quarterly interest payment date beginning May 28, 2019.
Incapital LLC is the placement agent.
| Issuer: | Credit Suisse AG, Nassau Branch
|
| Issue: | Callable step-up securities
|
| Amount: | $1 million
|
| Maturity: | May 28, 2026
|
| Coupon: | 3% initially, stepping up to 4% on May 28, 2019 and to 6% on May 28, 2024; payable semiannually
|
| Price: | Par
|
| Payout at maturity: | Par
|
| Call option: | At par on each quarterly interest payment date beginning May 28, 2019
|
| Pricing date: | May 23
|
| Settlement date: | May 28
|
| Agent: | Incapital LLC
|
| Fees: | 2.15%
|
| Cusip: | 22547QLX2
|
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