Credit security has issued a SARON - linked AT1 , claiming it is the first public issue in the Swiss franc market to use the RFR . The exchange has a fixed rate option until its first call date , after which it will use the five - digit mid - swap rate referencing SARON .
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.