By Devika Patel and Cristal Cody
Knoxville, Tenn., Jan. 27 – Credit Suisse Group AG priced $2 billion of 1.305% six-year fixed-to-floating rate senior notes at a spread of 90 basis points over Treasuries on Tuesday, according to a market source.
The notes will reset after the fixed-rate period to a floating rate of SOFR plus 98 bps.
Credit Suisse Securities (USA) LLC is the bookrunner.
The financial services company is based in Zurich.
| Issuer: | Credit Suisse Group AG
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| Amount: | $2 billion
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| Maturity: | Feb. 2, 2027
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| Description: | Fixed-to-floating rate senior notes
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| Bookrunner: | Credit Suisse Securities (USA) LLC
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| Coupon: | 1.305%; resets after initial fixed period to floating rate of SOFR plus 98 bps
|
| Spread: | Treasuries plus 90 bps
|
| Call: | Non-callable for five years
|
| Trade date: | Jan. 26
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