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Credit Suisse plans to call $1.5 billion AT1 instrument

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FILE PHOTO: A logo is pictured on the Credit Suisse bank in Geneva,
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ZURICH (Reuters) - Credit Suisse plans to call its $1.5 billion 7.125% high-trigger Tier 1 capital instrument for redemption on July 29, it said on Thursday.

"This call is subject to successful completion and pricing of the new AT1 issue announced earlier today for a minimum size of $1.5bn, and approval by our regulator," the bank said.

"This redemption and replacement is part of our capital and funding plan for 2022, which also includes the plan to issue approximately 0-2 billion (Swiss francs) in high-trigger Tier 1 capital instruments this year," it added.

(Reporting by Brenna Hughes Neghaiwi, Editing by Miranda Murray)

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