Prices on Zeroed Credit Suisse AT1s Rise After Court Ruling (1)

Prices on claims tied to Credit Suisse Additional Tier 1 bonds, which were wiped out in 2023, have risen rapidly after a Swiss court gave a partial win to investors seeking damages.

Dealers are willing to buy claims for around 30 cents on the dollar, according to three people who have seen the quotes. The last quoted prices before the court’s announcement stood at about 12 cents, the people said. Credit Suisse’s AT1s, the riskiest type of bank debt, were completely written off as part of a state-orchestrated takeover by Swiss rival UBS Group AG more than two years ago. ...