This article's content is accurate to the most recent public game version, 0.4.8d.
"A magical blade formed from ice strikes the enemy. Deals Ice damage. Very fast."
Cost: 7 TP
Source: Alice - Equipping the Mirror Shard.
Frigid Slash is a skill that deals high 
Ice damage to a single enemy target. This is a physical skill that cannot be evaded. It casts at a high speed, usually moving first in the turn. This skill also applies any status effects inherent to the user or their weapon.
The damage on Frigid Slash is quite appreciable for its very modest 7 TP cost. As a physical attack it would require an ATK build for Alice to be useful, but as it can also apply status effects from the user's weapons, it combos well with her 
Cursed effect.