Credit Suisse Said to Give Guidance For Contingent Capital Notes

Credit Suisse Group AG (CSGN) is selling at least 250 million Swiss francs of contingent capital notes, according to a person with knowledge of the transaction.

The so-called high-trigger buffer capital notes may pay a coupon of about 7 percent to 7.25 percent and will mature in March 2022, the person said. The securities, which are callable in 2017, convert into shares if the bank’s core tier 1 capital drops below 7 percent, the person said.

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