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Credit Suisse Group AG announces completion of its 2019 share buyback program and start of its new 2020 share buyback program

Credit Suisse Group AG (“Credit Suisse”) announces that on December 30, 2019 it completed its 2019 share buyback program, which commenced on January 14, 2019 (the "2019 Share Repurchase Program"). Under the 2019 Share Repurchase Program, Credit Suisse repurchased 79,818,000 of its shares on a second trading line on SIX Swiss Exchange for a total of CHF 1,000,244,961 at an average purchase price per share of CHF 12.53.

Separately, Credit Suisse will commence a new share buyback program in January 2020 (the “2020 Share Repurchase Program”), following the announcement of the program at Investor Day on December 11, 2019. 

The Board of Directors of Credit Suisse approved a buyback of Credit Suisse shares of up to CHF 1.5 billion in 2020. Credit Suisse expects to buy back at least CHF 1.0 billion of shares until the end of 2020, subject to market and economic conditions.

Credit Suisse will acquire its own shares on a second trading line on SIX Swiss Exchange subject to deduction of applicable Swiss federal withholding tax. The repurchased shares are expected to be cancelled by means of a capital reduction to be proposed at future annual general meetings of shareholders.

Detailed information on the 2019 Share Repurchase Program and 2020 Share Repurchase Program can be found in the buyback notices that are available on the Share capital & statistics webpage.