Credit Suisse Results Presentation Deck
Deleveraging to significantly reduce funding needs
Long-term debt capital markets issuance
and redemption¹ volumes in CHF bn
24
Liquidity instruments²
TLAC-eligible instruments³
20
11
2021
25
Issuance Redemption Issuance Redemption
Net issuance:
CHF 9 bn
17
2022
CHF 8 bn
Covered bonds
Senior bonds (OpCo)
Senior bonds (HoldCo)
Capital instruments (AT1)
up to ~17
~2
~9
o/w 4 bn
issued
~2
up to ~4
Full-year
issuance plan4
2023
22
8
CHF ~(5) bn
9
4
Liquidity
instruments
TLAC-eligible
instruments
Full-year
Redemption
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
Already completed nearly half of 2023 OpCo issuance plan5 and
~25% of overall funding plan in January
-
1 Issuance excludes contingent capital awards. Maturities and expected redemptions as of respective year-end FX rates. Figures for 2022 redemptions are based on December 31, 2021 FX rates, while 2023 onwards redemptions
are based on September 30, 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 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 5 Need partly driven by new TBTF Liquidity rules to come into effect Jan 1, 2024
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