$12,500,000 Contingent Coupon Autocallable Yield Notes Linked to the Performance of the Class A Common Stock of Peloton Interactive, Inc. due June 01, 2023, priced on November 26, 2021, were issued by Credit Suisse AG. The pricing supplement for this note (CUSIP: 22553P6P9) can be found here. The notes had a $1,000 face value and paid a monthly coupon of $25.00, so long as the notes had not been called and and Peloton all closed above 70% of their November 26, 2021 closing prices on a determination date. If and Peloton closed below 70% of their November 26, 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 Peloton all closed on the final determination date on May 26, 2023 and above 70% of their November 26, 2021 closing prices. If on May 26, 2023 and Peloton closed below 70% of their November 26, 2021 closing prices, the notes paid reduced principal euqal to $1,000 multiplied by the lowest ratio of and Peloton May 26, 2023 closing prices to their November 26, 2021 closing prices. The notes have matured. They paid one coupon totaling $25.00 and $148.46 repayment per $1,000 note. Investors thus suffered capital losses of $851.54 and net losses of $826.54.† In the aggregate, investors in this note suffered $10,644,258 in capital losses and $10,331,758 in net losses. See Table 1 and Figure 1.
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