Corporate Press Release

Press Release

Credit Suisse announces tender offer to repurchase certain outstanding tier 1 and tier 2 securities
Further step in early transitioning to the new regulatory regime

Credit Suisse today announced a tender offer to repurchase certain outstanding tier 1 and tier 2 securities up to an aggregate amount in cash equivalent to CHF 4 billion. Credit Suisse has mandated Credit Suisse Securities (Europe) Limited as offeror and dealer manager in this transaction. The offers are being made based on the terms and conditions set out in the Tender Offer Memorandum dated March 5, 2012 issued by Credit Suisse Securities (Europe) Limited, which are subject to offer restrictions.

Based on its strong liquidity and capital position, Credit Suisse today announced a tender offer to repurchase some of its public tier 1 and tier 2 instruments. Credit Suisse's main objective is to pro-actively align its capital structure with the proposed Swiss and Basel III regulations and is consistent with Credit Suisse’s practice of efficient capital management. It allows the bank’s tier 1 and tier 2 investors to sell holdings in capital securities, which over time will be replaced by new capital instruments.

David Mathers, CFO of Credit Suisse Group, said: “This is another important step for Credit Suisse and its investors in transitioning to the new regulatory regime. Credit Suisse continues to take a proactive approach to satisfy the new capital requirements, aimed at transitioning its capital structure well in advance of the required implementation dates. With a Basel 2.5 tier 1 ratio of 15.2% and a net stable funding ratio of 98% at the end of 2011, Credit Suisse is among the best capitalized and funded banks.”