By Paul A. Harris
Portland, Ore., Aug. 28 – Credit Suisse Group AG priced CHF 525 million of 3% perpetual tier 1 contingent write-down capital notes (BB-/BB) on Wednesday, according to market sources.
The notes are non-callable for six months.
The deal was talked at 3% to 3¼%, a source added.
The Zurich-based banking and financial services company has corporate credit ratings of Baa2 from Moody's Investors Service, BBB+ from S&P Global Ratings and A- from Fitch Ratings, the source said.
| Issuer: | Credit Suisse Group AG
|
| Amount: | CHF 525 million
|
| Maturity: | Perpetual
|
| Securities: | Perpetual tier 1 contingent write-down capital notes
|
| Bookrunner: | Credit Suisse
|
| Coupon: | 3%
|
| First call: | Six years
|
| Trade date: | Sept. 28
|
| Ratings: | S&P: BB-
|
| Fitch: BB
|
| Price talk: | 3% to 3¼%
|
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