Credit Suisse to price callable step-up notes with 3.25% initial rate

By Sarah Lizee

Olympia, Wash., April 26 – Credit Suisse AG, London Branch plans to price callable step-up securities due Nov. 30, 2023, according to a 424B2 filing with the Securities and Exchange Commission.

Interest will be 3.25% initially, stepping up to 4% on Nov. 30, 2021 and to 5% on Nov. 30, 2022. Interest will be payable quarterly.

The payout at maturity will be par.

The notes will be callable in whole at par on any interest payment date beginning on May 30, 2019.

Credit Suisse Securities (USA) LLC is the agent.

The notes (Cusip: 22550WS32) will price May 24 and settle May 30.

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