Credit Suisse has placed a SARON-linked AT1, claiming it is the first public issue in the Swiss franc market to use the RFR. The new notes are expected to be issued by the end of this year, with an initial batch being distributed next year.
Credit Suisse has placed a SARON-linked AT1, claiming it is the first public issue in the Swiss franc market to use the RFR. The security has a fixed rate coupon until its first call date, after which it will pay the five-year mid-swap rate referencing SARON.