© Reuters. FILE PHOTO: A logo is pictured on the Credit Suisse bank in Geneva, Switzerland, June 9, 2022. REUTERS/Denis Balibouse/File Photo
ZURICH (Reuters) – Credit Suisse plans to call its $1.5 billion 7.125% high-trigger Tier 1 capital instrument for redemption on July 29, it said on Thursday.
“This call is subject to successful completion and pricing of the new AT1 issue announced earlier today for a minimum size of $1.5bn, and approval by our regulator,” the bank said.
“This redemption and replacement is part of our capital and funding plan for 2022, which also includes the plan to issue approximately 0-2 billion (Swiss francs) in high-trigger Tier 1 capital instruments this year,” it added.