Credit Suisse arranges the industry's first green ABCP note

Credit Suisse today announces the successful inaugural issuance of a green Asset-Backed Commercial Paper (ABCP) note, raising USD 200 million. Credit Suisse understands this to be the industry's first green ABCP note. The note was issued by Alpine Securitization (a special purpose vehicle sponsored by Credit Suisse to issue ABCP).

New York
23.01.2020

Anna Christensen,
+1 (212) 538 4748,
anna.christensen@credit-suisse.com

Will Bowen,
+44 20 7883 1254,
will.bowen@credit-suisse.com

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Jay Kim, Global Head of Securitized Products, said, "Credit Suisse is proud to introduce a green issuance to our Alpine ABCP note program, building on our strong track record of innovation."

Credit Suisse independently sourced the solar assets financed by the proceeds of this green ABCP issuance. The assets will be distinct from the asset pool used for Credit Suisse's Yankee Certificates of Deposit (YCD) green issuances, which were announced last year.

The issuance was broadly assessed against criteria for ESG standards. One of the leading corporate governance and responsible investment organizations independently assessed the transaction for its compliance with the International Capital Market Association's (ICMA) green bond principles as outlined in their final opinion. This transaction also follows the newly established Alpine Green Commercial Paper Framework, a separate framework from Credit Suisse's published Green Finance Framework.

"This green ABCP note issuance builds on Credit Suisse's long-standing commitment to sustainable finance, exemplified by the establishment in 2017 of the Impact Advisory and Finance ("IAF") Department," said Marisa Drew, CEO of the IAF Department. IAF aims to facilitate projects and initiatives that have a positive environmental or social impact and generate a financial return. Reporting directly to the Chief Executive Officer, it coordinates activities across the Group. By enabling and advancing sustainable finance and impact investing alongside responsible business activities, IAF seeks to benefit wealth management, institutional and corporate clients.

In June 2019, Credit Suisse announced the inaugural issuance of green Yankee Certificates of Deposit (YCD), raising $200 million in proceeds. In November 2019, Credit Suisse acted as the sole manager for a capital protected AAA rated "Blue Economy" structured note with the World Bank to focus attention on the sustainable use of oceans and coastal areas.

About Credit Suisse AG

Credit Suisse AG is one of the world's leading financial services providers and is part of the Credit Suisse group of companies (referred to here as 'Credit Suisse'). Our strategy builds on Credit Suisse's core strengths: its position as a leading wealth manager, its specialist investment banking capabilities and its strong presence in our home market of Switzerland. We seek to follow a balanced approach to wealth management, aiming to capitalize on both the large pool of wealth within mature markets as well as the significant growth in wealth in Asia Pacific and other emerging markets, while also serving key developed markets with an emphasis on Switzerland. Credit Suisse employs approximately 47,440 people. The registered shares (CSGN) of Credit Suisse AG's parent company, Credit Suisse Group AG, are listed in Switzerland and, in the form of American Depositary Shares (CS), in New York. Further information about Credit Suisse can be found at www.credit-suisse.com.

Disclaimer

This document was produced by and the opinions expressed are those of Credit Suisse as of the date of writing and are subject to change. It has been prepared solely for information purposes and for the use of the recipient. It does not constitute an offer or an invitation to any person to buy or sell any security. Any reference to past performance is not necessarily a guide to the future. The information and analysis contained in this publication have been compiled or arrived at from sources believed to be reliable but Credit Suisse does not make any representation as to their accuracy or completeness and does not accept liability for any loss arising from the use hereof.

Neither this press release nor any of the information contained herein constitutes an offer to sell or a solicitation of an offer to buy any securities in any jurisdiction in which such an offer or solicitation would be prohibited by applicable law. Nothing contained in this press release is intended to constitute an invitation or inducement to engage in investment activity for the purposes of the prohibition on financial promotion in the U.K. Financial Services and Markets Act 2000.

Cautionary statement regarding forward-looking information

This document contains statements that constitute forward-looking statements. In addition, in the future we, and others on our behalf, may make statements that constitute forward-looking statements. Such forward-looking statements may include, without limitation, statements relating to the following:

our plans, targets or goals;
our future economic performance or prospects;
the potential effect on our future performance of certain contingencies; and
assumptions underlying any such statements.

Words such as "believes," "anticipates," "expects," "intends" and "plans" and similar expressions are intended to identify forward-looking statements but are not the exclusive means of identifying such statements. We do not intend to update these forward-looking statements.

By their very nature, forward-looking statements involve inherent risks and uncertainties, both general and specific, and risks exist that predictions, forecasts, projections and other outcomes described or implied in forward-looking statements will not be achieved. We caution you that a number of important factors could cause results to differ materially from the plans, targets, goals, expectations, estimates and intentions expressed in such forward- looking statements. These factors include:

the ability to maintain sufficient liquidity and access capital markets;
market volatility and interest rate fluctuations and developments affecting interest rate levels;
the strength of the global economy in general and the strength of the economies of the countries in which we conduct our operations, in particular the risk of continued slow economic recovery or downturn in the EU, the US or other developed countries or in emerging markets in 2019 and beyond;
the direct and indirect impacts of deterioration or slow recovery in residential and commercial real estate markets;
adverse rating actions by credit rating agencies in respect of us, sovereign issuers, structured credit products or other credit-related exposures;
the ability to achieve our strategic goals, including those related to our targets and financial goals;
the ability of counterparties to meet their obligations to us;
the effects of, and changes in, fiscal, monetary, exchange rate, trade and tax policies, as well as currency fluctuations;
political and social developments, including war, civil unrest or terrorist activity;
the possibility of foreign exchange controls, expropriation, nationalization or confiscation of assets in countries in which we conduct our operations;
operational factors such as systems failure, human error, or the failure to implement procedures properly;
the risk of cyber attacks, information or security breaches or technology failures on our business or operations;
the adverse resolution of litigation, regulatory proceedings and other contingencies;
actions taken by regulators with respect to our business and practices and possible resulting changes to our business organization, practices and policies in countries in which we conduct our operations;
the effects of changes in laws, regulations or accounting or tax standards, policies or practices in countries in which we conduct our operations;
the potential effects of changes in our legal entity structure;
competition or changes in our competitive position in geographic and business areas in which we conduct our operations;
the ability to retain and recruit qualified personnel;
the ability to maintain our reputation and promote our brand;
the ability to increase market share and control expenses;
technological changes;
the timely development and acceptance of our new products and services and the perceived overall value of these products and services by users;
acquisitions, including the ability to integrate acquired businesses successfully, and divestitures, including the ability to sell non-core assets; and
other unforeseen or unexpected events and our success at managing these and the risks involved in the foregoing.

We caution you that the foregoing list of important factors is not exclusive. When evaluating forward-looking statements, you should carefully consider the foregoing factors and other uncertainties and events, including the information set forth in "Risk factors" in I – Information on the company in our Annual Report 2018.

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Credit Suisse arranges the industry's first green ABCP note

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