CapLaw-2012-44

Credit Suisse Group (Guernsey) V Limited (CS Guernsey) issued CHF 3,800,000,000 of Swiss law governed 4% subordinated Mandatory and Contingent Convertible Securities (MACCS) mandatorily convertible into 233,500,000 shares of Credit Suisse Group on 29 March 2013 (if not early converted upon the occurrence of certain contingency and viability events specified in the terms of the MACCS). The MACCS issuance is part of the set of targeted capital measures announced on 18 July 2012 that are expected to strengthen Credit Suisse’s capital by CHF 15,300,000,000 in preparation for the Basel III regulatory framework. To ensure the placement of the MACCS, the…