Credit Suisse to price callable step-up notes with 2.5% initial rate

By Toni Weeks

San Luis Obispo, Calif., Feb. 2 – Credit Suisse AG, Nassau Branch plans to price callable step-up securities due Feb. 27, 2025, according to a 424B2 filing with the Securities and Exchange Commission.

The interest rate is 2.5% initially, stepping up to 4% on interest payment dates scheduled to occur from and including May 27, 2021, to 5% on interest payment dates scheduled to occur from and including May 27, 2023 and to 6% on interest payment dates scheduled to occur from and including May 27, 2024. Interest is payable quarterly.

The payout at maturity will be par.

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

Credit Suisse Securities (USA) LLC is the agent.

The notes (Cusip: 22546V4C7) are expected to price Feb. 24 and settle Feb. 27.

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