Credit Suisse AG 6-K, filed Jun 9, 2023
Credit Suisse AG (GLDI)
About this 6-K
Credit Suisse AG filed this 6-K on June 9, 2023.
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 6-K
REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULE 13a-16 OR 15d-16
UNDER THE SECURITIES EXCHANGE ACT OF 1934
For the month of June, 2023
Commission File Number 001-33434
CREDIT SUISSE AG
(Translation of Registrant’s Name Into English)
Paradeplatz 8, CH-8001 Zurich, Switzerland
(Address of Principal Executive Offices)
| Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F. |
Form 20-F ☒ Form 40-F ☐ |
| Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): ____ |
| Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): ____ |
Explanatory note
This report on Form 6-K contains the exhibit set forth below. This report on Form 6-K and such exhibit are hereby incorporated by reference into Registration Statement No. 333-238458-02 of Credit Suisse AG.
Exhibit 99.1: Press release of Credit Suisse AG dated June 9, 2023.
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
| CREDIT SUISSE AG | ||||
| Date: June 9, 2023 | By: | /s/ Elaine Sam | ||
| Name: | Elaine Sam | |||
| Title: | Authorized Officer | |||
| By: | /s/ Ashley MacLean | |||
| Name: | Ashley MacLean | |||
| Title: | Authorized Officer | |||
Exhibit 99.1
|
CREDIT SUISSE | ||
Eleven Madison Avenue New York, NY 10010 USA |
Telephone +1 212–325–5200 Fax +1 212–325–6665 | |
Media Release
Credit Suisse AG Announces CME Term SOFR As Replacement Reference Rate for Its Outstanding U.S. Dollar LIBOR-Linked Debt Securities
June 9, 2023
Credit Suisse AG announced today that, following June 30, 2023, CME Term SOFR will be the replacement reference rate for its outstanding New York law-governed debt securities that use U.S. dollar LIBOR as the reference rate.
The outstanding notes of Credit Suisse AG listed below (the “LIBOR Notes”) currently use three-month U.S. dollar LIBOR as the reference rate and require the calculation agent to select a successor reference rate following the cessation of three-month U.S. dollar LIBOR.
| Title of Notes | CUSIP |
| Fixed to Floating Rate Securities due April 14, 2026 Linked to the Performance of the 3-Month USD LIBOR | 22548Q3E3 |
| Senior Floating Rate Securities due 2031 Step-Up 3-Month USD LIBOR and S&P 500® Index Range Accrual Securities | 22548Q6L4 |
Pursuant to the Adjustable Interest Rate (LIBOR) Act (the “LIBOR Act”) enacted by the Congress on March 15, 2022 and the final rule adopted by the Federal Reserve Board on December 16, 2022 implementing the LIBOR Act (the “LIBOR Rule”), Credit Suisse International, as the calculation agent and the “Determining Person” (as defined under the LIBOR Act), has determined that three-month CME Term SOFR shall be the reference rate for calculations of the amount of interest payable with respect to the LIBOR Notes for which the interest rate determination date occurs after June 30, 2023.
By operation of the LIBOR Act and LIBOR Rule, the calculation of the amount of interest payable with respect to the LIBOR Notes for which the interest rate determination date occurs after June 30, 2023 will also include the tenor spread adjustment of 0.26161%.
Press Contact
Andre Rosenblatt, Credit Suisse, andre.rosenblatt@credit-suisse.com
Credit Suisse
Credit Suisse is one of the world's leading financial services providers. The bank’s strategy is built on its leading Wealth Management and Swiss Bank franchises, with strong Asset Management as well as Markets capabilities. Credit Suisse seeks to follow a balanced approach to wealth management, aiming to capitalize on both the large pool of wealth within mature markets as well as the significant growth in wealth in Asia Pacific and other emerging markets, while also serving key developed markets with an emphasis on Switzerland. The bank employs more than 50,000 people. The registered shares (CSGN) of Credit Suisse Group AG are listed in Switzerland and, in the form of American Depositary Shares (CS), in New York. Further information about Credit Suisse can be found at www.credit-suisse.com.
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