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Credit Suisse to price callable step-up notes with 2.75% initial rate
By Devika Patel
Knoxville, Tenn., June 23 – Credit Suisse AG, Nassau branch plans to price callable step-up securities due June 30, 2027, according to a 424B2 filing with the Securities and Exchange Commission.
Interest will be 2.75% initially, stepping up to 3% on June 30, 2021, to 4% on June 30, 2024, to 5% on June 30, 2025 and to 6% on June 30, 2026. Interest will be payable semiannually with the first interest payment date on Dec. 30, 2017.
The payout at maturity will be par.
The notes will be callable at par on any interest payment date excluding the maturity date, beginning on June 30, 2018.
Credit Suisse Securities (USA) LLC is the agent.
The notes (Cusip: 22550BAQ6) will price June 27 and settle June 30.
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