Credit Suisse Credit Presentation Deck
Deleveraging to significantly reduce funding needs
Long-term debt capital markets issuance
and redemption¹ volumes in CHF bn
6
Liquidity instruments²
TLAC-eligible instruments³
20
Issuance
11
Redemption
2021
Net issuance:
CHF 9 bn
25
Issuance
17
Redemption
2022
CHF 8 bn
Covered bonds
Senior bonds (OpCo)
Senior bonds (HoldCo)
Capital instruments (AT1)
~5
~0.5
Issuance
YTD4
up to -17
~2
~2
up to ~4
Liquidity
instruments
CHF ~(5) bn
TLAC-eligible
instruments
21
8
9
4
Full-year Full-year
issuance plan5 Redemption
2023
16
0.7
7
5
3
2024
20
6
11
2
2025
14
0.2
Future redemptions
CO
6
6
2
2026
Key messages
Group's overall funding needs expected to reduce over
time as a result of strategic transformation in line with
balance sheet reduction
■
▪ Combined HoldCo and AT1 issuance of up to CHF ~6
bn vs. CHF 13 bn of redemption in 2023
Significant reduction of HoldCo needs
N
Already completed over half of 2023 OpCo issuance
plan² and ~35% of overall funding plan in February
1 Issuance excludes contingent capital awards. Maturities and expected redemptions as of respective year-end FX rates. 2023, 2024, 2025 and 2026 redemptions are based on December 31, 2022 FX rates. Redemptions reflect
instruments maturing on their next call date for illustrative purposes only. Credit Suisse makes no representation on its intention to call the instruments 2 Includes covered bonds and OpCo instruments; excludes Pfandbrief
3 Includes HoldCo instruments as well as AT1 high-trigger capital instruments, grandfathered tier 1 and tier 2 capital instruments, and legacy capital instruments 4 As of February 21,2023 5 Estimated full-year issuance plan
reflects projected business growth, development of the balance sheet, future funding needs and maturity profiles as well as the effects of changing market and regulatory conditions. For indicative purposes and subject to change
6 Does not reflect potential new issuance from this date onwards. Excludes any buybacks or OpCo structured notes activity 7 Need partly driven by new TBTF Liquidity rules to come into effect Jan 1, 2024
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