UBS has announced that it will redeem another bond issued by Credit Suisse before its original maturity date. The redemption is scheduled to take place on January 16, 2025.

The bond in question is a floating rate senior callable note with a total value of EUR 1.5 billion. It was initially set to mature in January 2026. The bond carries an annual coupon of 4.206 percent. In March 2024, the bond was last traded at 100.09 percent and reached a high of 100.47 percent.

This marks the third time that UBS has redeemed Credit Suisse bonds early. In September, UBS redeemed two bonds worth $2 billion and £750 million. The last trading day for the bond being redeemed in January 2025 will be January 14. The bonds were issued by Credit Suisse Group on January 18, 2021, and are listed on the SIX Swiss Exchange. During the Credit Suisse crisis in March 2022, the bond prices experienced significant volatility, dropping below 65% at times.