Credit Suisse to Call Last Equity Conversion-Format CoCo Bond

Credit Suisse intends to call its $1.5 billion 7.125% additional tier 1 note on July 29, according to a statement Thursday.

• This is the lender’s last remaining CoCo with an equity conversion when capital ratios fall below a certain level and not a write-off
  • The call “will therefore mark a significant simplification of our AT1 capital portfolio,” the bank said in statement
• First opportunity to call the note, which was issued in 2017
• Click here for a search of $100m-plus CoCos in euros, dollars or pounds

To contact the reporter on this story:
Tasos Vossos in London at tvossos@bloomberg.net

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