$20,000,000 Auto-Callable Contingent Income Securities Redemption Amount Subject to the Coupon Barrier, Buffer Level and Physical Delivery Features Based on the Performance of the American Depositary Shares of NIO Inc. due February 01, 2022, priced on January 27, 2021, were issued by Credit Suisse AG. The pricing supplement for this note (CUSIP: 22550MPT0) can be found here. The notes had a $1,000 face value and paid a monthly coupon of $17.20833, so long as the notes had not been called and and NIO all closed above 60% of their January 27, 2021 closing prices on a determination date. If and NIO closed below 60% of their January 27, 2021 closing prices on a determination date, the notes did not pay a coupon. If not previously called, at maturity, the notes returned $1,000 in principal if and NIO all closed on the final determination date on January 27, 2022 and above 60% of their January 27, 2021 closing prices. If on January 27, 2022 and NIO closed below 60% of their January 27, 2021 closing prices, the notes paid reduced principal euqal to $1,000 multiplied by the lowest ratio of and NIO January 27, 2022 closing prices to their January 27, 2021 closing prices. The notes have matured. They paid five coupons totaling $172.08333 and $524.23 repayment per $1,000 note. Investors thus suffered capital losses of $475.77 and net losses of $303.68.† In the aggregate, investors in this note suffered $9,515,311 in capital losses and $6,073,644 in net losses. See Table 1 and Figure 1.
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