Credit Suisse AT1 instruments impact ‒ update
Note: This Announcement, originally published on 22 March 2023 and updated on 23 March 2023, has been further updated to inform about the current status of positions and executed settlement instructions.
Clearstream Banking1 advises about the situation on certain Credit Suisse AT1 instruments.
On 23 March 2023, the Swiss Financial Market Supervisory Authority FINMA announced that it has instructed Credit Suisse to completely write down its AT1 instruments and to inform the bondholders concerned without delay.
Clearstream Banking is seeking clarification about the reversal of settlement instructions executed after 19 March 2023 for the markets mentioned below.
Clearstream Banking will provide an update in due course.
Swiss market instruments
For the following securities, settlement has been suspended with immediate effect:
Common code | ISIN code | Security name |
158411610 | CH0360172719 | CHF 3,875 CREDIT SUISSE GRP (REGS) 17-XXXX |
187312086 | CH0428194226 | CHF 3,50 CREDIT SUISSE AG 18-XXXX |
200737113 | CH0482172324 | SGD FL.R CREDIT SUISSE GRP (REGS) 19-2024 |
205040340 | CH0494734384 | CHF 3,00 CREDIT SUISSE GRP (REGS) 19-XXXX |
U.S. market instruments
Following the decision of Clearstream’s U.S. depository, settlement for the following instruments has been suspended with immediate effect:
Common code | ISIN code | Security name |
185708993 | US225401AJ72 | USD 7,50 CREDIT SUISSE GRP (144A) 18-XXXX |
187922941 | US225401AK46 | USD 7,25 CREDIT SUISSE GRP (144A) 18-XXXX |
204490350 | US225401AL29 | USD 6,375 CREDIT SUISSE GRP (144A) 19-XXXX |
210897267 | US225401AN84 | USD 5,10 CREDIT SUISSE AG (144A) 20-XXXX |
221552865 | US225401AR98 | USD 5,25 CREDIT SUISSE GRP (144A) 20-XXXX |
227136383 | US225401AS71 | USD 4,50 CREDIT SUISSE GRP (144A) 20-XXXX |
249644692 | US225401AX66 | USD 9,75 CREDIT SUISSE GRP (144A) 22-XXXX |
107872035 | US225436AA21 | USD 6,25 CREDIT SUISSE GRP (144A) 14-XXXX |
100338467 | US22546DAB29 | USD 7,50 CREDIT SUISSE GRP (144A) 13-2023 |
185708977 | USH3698DBW32 | USD 7,50 CREDIT SUISSE GRP (REGS) 18-XXXX |
187922976 | USH3698DBZ62 | USD 7,25 CREDIT SUISSE GRP (REGS) 18-2200 |
204425523 | USH3698DCP71 | USD 6,375 CREDIT SUISSE GRP (REGS) 19-XXXX |
210770283 | USH3698DCV40 | USD 5,10 CREDIT SUISSE GRP (REGS) 20-XXXX |
221517938 | USH3698DDA93 | USD 5,25 CREDIT SUISSE GRP (REGS) 20-XXXX |
227110414 | USH3698DDD33 | USD 4,50 CREDIT SUISSE GRP (REGS) 20-XXXX |
249569011 | USH3698DDQ46 | USD 9,75 CREDIT SUISSE GRP (REGS) 22-XXXX |
International market instruments
The following securities have been marked down as advised to the impacted clients via MT564 based on information received from the common depository:
Common code | ISIN code | Security name |
098939458 | XS0989394589 | USD 7,50 CREDIT SUISSE GRP (REGS/1) 13-XXXX |
107695770 | XS1076957700 | USD 6,25 CREDIT SUISSE GRP (REGS/1) 14-XXXX |
Further information
For further information, customers may contact Clearstream Banking Client Services or their Relationship Officer.
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1. Clearstream Banking refers to Clearstream Banking AG, registered office at 61, Mergenthalerallee, 65760 Eschborn, Germany and registered in Register B of the Amtsgericht Frankfurt am Main, Germany under number HRB 7500.