Long-term debt (Tables)
 12 Months Ended
Dec. 31, 2021
Long-term debt
end of 2021 2020
Long-term debt (CHF million)
Senior 141,402 133,056
Subordinated 24,103 26,285
Non-recourse liabilities from consolidated VIEs 1,391 1,746
Long-term debt  166,896 161,087
   of which reported at fair value  68,722 70,976
   of which structured notes  43,126 47,039
Schedule of Structured notes
end of 2021 2020
Structured notes by product (CHF million)   
Equity 28,681 29,907
Fixed income 11,678 13,882
Credit 2,363 2,881
Other 404 369
Total structured notes  43,126 47,039
Long-term debt by maturities
Long-term debt by maturities
end of 2022 2023 2024 2025 2026 Thereafter Total
Group parent company (CHF million)
Senior debt 
   Fixed rate  0 5,683 1,262 7,376 5,240 22,475 42,036
   Variable rate  0 548 1,766 0 1,560 0 3,874
   Interest rate (range in %) 1 – 0.6 – 3.8 1.0 – 4.2 1.3 – 3.8 0.5 – 4.6 0.6 – 5.4 –
Subordinated debt 
   Fixed rate  1,406 4,348 3,250 2,022 1,717 3,631 16,374
   Interest rates (range in %) 1 7.1 3.9 – 7.5 3.5 – 6.3 3.0 – 7.3 6.4 4.5 – 5.3 –
Subtotal – Group parent company  1,406 10,579 6,278 9,398 8,517 26,106 62,284
Subsidiaries (CHF million)
Senior debt 
   Fixed rate  4,129 4,878 4,739 4,566 5,712 14,010 38,034
   Variable rate  15,708 11,665 7,757 4,777 3,932 13,619 57,458
   Interest rates (range in %) 1 0.0 – 9.7 0.1 – 2.2 0.0 – 3.6 0.0 – 3.5 0.1 – 3.3 0.0 – 7.1 –
Subordinated debt 
   Fixed rate  4,907 2,397 29 33 50 127 7,543
   Variable rate  186 0 0 0 0 0 186
   Interest rates (range in %) 1 0.9 – 3.8 0.0 – 6.5 5.7 0.0 – 5.9 5.9 5.7 – 7.2 –
Non-recourse liabilities from consolidated VIEs 
   Fixed rate  133 123 0 217 0 0 473
   Variable rate  14 6 2 0 9 2 0 889 918
   Interest rates (range in %) 1 0.0 – 2.9 – – – – 0.0 – 10.6 –
Subtotal – Subsidiaries  25,077 19,069 12,525 9,602 9,694 28,645 104,612
Total long-term debt  26,483 29,648 18,803 19,000 18,211 54,751 166,896
   of which structured notes  11,346 7,764 4,625 3,628 2,954 12,809 43,126
The maturity of perpetual debt is based on the earliest callable date. The maturity of all other debt is based on contractual maturity and includes certain structured notes that have mandatory early redemption features based on stipulated movements in markets or the occurrence of a market event. Within this population there are approximately CHF 2.7 billion of such notes with a contractual maturity of greater than one year that have an observable likelihood of redemption occurring within one year based on a modelling assessment.
1
Excludes structured notes for which fair value has been elected as the related coupons are dependent upon the embedded derivatives and prevailing market conditions at the time each coupon is paid.
2
Reflects equity linked notes, where the payout is not fixed.
Bank  
Long-term debt
end of 2021 2020
Long-term debt (CHF million)   
Senior 95,468 94,768
Subordinated 63,836 63,765
Non-recourse liabilities from consolidated VIEs 1,391 1,746
Long-term debt  160,695 160,279
   of which reported at fair value  67,788 70,243
   of which structured notes  43,126 47,039
Schedule of Structured notes
end of 2021 2020
Structured notes by product (CHF million)   
Equity 28,681 29,907
Fixed income 11,678 13,882
Credit 2,363 2,881
Other 404 369
Total structured notes  43,126 47,039
Long-term debt by maturities
end of 2022 2023 2024 2025 2026 Thereafter Total
Long-term debt (CHF million)
Senior debt 
   Fixed rate  4,058 4,886 4,740 4,584 5,709 14,019 37,996
   Variable rate  15,708 11,665 7,760 4,777 3,932 13,630 57,472
   Interest rates (range in %) 1 0.0 – 9.7 0.1 – 2.2 0.0 – 3.6 0.0 – 3.5 0.1 – 3.3 0.0 – 7.1 –
Subordinated debt 
   Fixed rate  7,308 10,522 4,555 9,432 7,008 19,548 58,373
   Variable rate  643 94 1,766 0 0 2,960 5,463
   Interest rates (range in %) 1 0.9 – 7.1 0.6 – 8.0 0.8 – 6.5 0.4 – 7.3 2.2 – 6.4 0.7 – 7.2 –
Non-recourse liabilities from consolidated VIEs 
   Fixed rate  133 123 0 217 0 0 473
   Variable rate  14 6 2 0 9 2 0 889 918
   Interest rates (range in %) 1 0.0 – 2.9 – – – – 0.0 – 10.6 –
Total long-term debt  27,864 27,296 18,821 19,019 16,649 51,046 160,695
   of which structured notes  11,346 7,764 4,625 3,628 2,954 12,809 43,126
The maturity of perpetual debt is based on the earliest callable date. The maturity of all other debt is based on contractual maturity and includes certain structured notes that have mandatory early redemption features based on stipulated movements in markets or the occurrence of a market event. Within this population there are approximately CHF 2.7 billion of such notes with a contractual maturity of greater than one year that have an observable likelihood of redemption occurring within one year based on a modelling assessment.
1
Excludes structured notes for which fair value has been elected as the related coupons are dependent upon the embedded derivatives and prevailing market conditions at the time each coupon is paid.
2
Reflects equity linked notes, where the payout is not fixed.