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Credit Suisse plans callable step-up notes with 3.28% initial rate
By Marisa Wong
Morgantown, W.Va., May 24 – Credit Suisse AG, Nassau Branch plans to price callable step-up securities due May 31, 2030, according to a 424B2 filing with the Securities and Exchange Commission.
The interest rate is 3.28% initially, stepping up to 3.53% on Nov. 30, 2019, to 3.78% on Nov. 30, 2022, to 4.03% on Nov. 30, 2024, to 4.28% on Nov. 30, 2026, to 4.53% on Nov. 30, 2028 and to 5.28% on Nov. 30, 2029. Interest is payable semiannually.
The payout at maturity will be par.
The notes are callable at par on any interest payment date beginning May 31, 2018.
Credit Suisse Securities (USA) LLC is the agent.
The notes will price on May 25.
The Cusip number is 22548Q7D1.
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