Credit Suisse to price callable step-up notes with 1.5% initial rate

By Toni Weeks

San Luis Obispo, Calif., Jan. 30 – Credit Suisse AG, Nassau Branch plans to price callable step-up securities due Feb. 27, 2020, according to a 424B2 filing with the Securities and Exchange Commission.

The interest rate is 1.5% for the first three years, stepping up to 2.75% on Feb. 28, 2018 and to 4% on Feb. 28, 2019. Interest is payable semiannually.

The payout at maturity will be par.

The notes are callable at par on any semiannual interest payment date beginning Aug. 27, 2015.

Credit Suisse Securities (USA) LLC is the agent.

The notes (Cusip: 22546V3Y0) are expected to price Feb. 24 and settle Feb. 27.

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