Published on 9/16/2016 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $1 million callable step-up notes with 2% initial rate
By Devika Patel
Knoxville, Tenn., Sept. 16 – Credit Suisse AG, Nassau Branch, priced $1 million of callable step-up securities due Sept. 15, 2023, according to a 424B2 filing with the Securities and Exchange Commission.
Interest will be 2% initially, stepping up to 2.5% on Sept. 15, 2019, to 3% on Sept. 15, 2021, to 3.5% on Sept. 15, 2022 and to 4% on March 15, 2023. Interest is payable semiannually.
The payout at maturity will be par.
The notes will be callable at par on any interest payment date after Sept. 22, 2017.
Incapital LLC is the underwriter.
Issuer: | Credit Suisse AG, Nassau Branch
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Issue: | Callable step-up securities
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Amount: | $1 million
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Maturity: | Sept. 15, 2023
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Coupon: | 2% initially, stepping up to 2.5% on Sept. 15, 2019, to 3% on Sept. 15, 2021, to 3.5% on Sept. 15, 2022 and to 4% on March 15, 2023; payable semiannually
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Price: | Par
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Payout at maturity: | Par
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Call option: | At par on any interest payment date beginning Sept. 22, 2017
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Pricing date: | Sept. 12
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Settlement date: | Sept. 15
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Underwriter: | Incapital LLC
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Fees: | 1.45%
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Cusip: | 22548QH24
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