$7,470,000 Auto-Callable Contingent Income Securities All Payments on the Securities Subject to the Coupon Barrier and Downside Threshold Features Based on the Performance of the Worst Performing of Three Underlyings due October 25, 2024, priced on October 22, 2021, were issued by Credit Suisse AG. The pricing supplement for this note (CUSIP: 22551G432) can be found here. The notes had a $10 face value and paid a quarterly coupon of $0.15125, so long as the notes had not been called and Signature Bank, U.S. Bancorp and First Republic Bank all closed above 55% of their October 22, 2021 closing prices on a determination date. If Signature Bank, U.S. Bancorp and First Republic Bank closed below 55% of their October 22, 2021 closing prices on a determination date, the notes did not pay a coupon. If not previously called, at maturity, the notes returned $10 in principal if Signature Bank, U.S. Bancorp and First Republic Bank all closed on the final determination date on October 22, 2024 and above 55% of their October 22, 2021 closing prices. If on October 22, 2024 Signature Bank, U.S. Bancorp and First Republic Bank closed below 55% of their October 22, 2021 closing prices, the notes paid reduced principal euqal to $10 multiplied by the lowest ratio of Signature Bank, U.S. Bancorp and First Republic Bank October 22, 2024 closing prices to their October 22, 2021 closing prices. The notes have matured. They paid five coupons totaling $0.45375 and $0.00 repayment per $10 note. Investors thus suffered capital losses of $10.00 and net losses of $9.55.† In the aggregate, investors in this note suffered $7,469,692 in capital losses and $7,130,741 in net losses. See Table 1 and Figure 1.
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