Credit Agricole to price $1 million seven-year callable step-up notes

By Marisa Wong

Morgantown, W.Va., April 23 – Credit Agricole Corporate and Investment Bank plans to price $1 million of callable step-up notes due April 30, 2025, according to a term sheet.

Interest will be 3.25% initially, stepping up to 3.5% on April 30, 2020, to 4% on April 30, 2022, to 5% on April 30, 2023 and to 6% on April 30, 2024. Interest will be payable quarterly.

The payout at maturity will be par.

The notes are callable in whole at par quarterly beginning on April 30, 2019.

Credit Agricole CIB is the agent.

The notes will price on April 25 and settle on April 30.

The Cusip number is 22533A6K8.

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