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| FINANCIAL PRODUCTS | |
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Pricing Complement No. IR-198 To Product Complement No. IR-I dated November 10, 2020, Prospectus Complement dated June 18, 2020 and Prospectus dated June 18, 2020 |
Filed Pursuant to Rule 424(b)(2) Registration Assertion No. 333-238458-02 August 29, 2022 |
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$6,039,000 Callable Mounted Charge Securities |
| · | Topic to Early Redemption, at maturity, you’ll obtain a money fee of $1,000 for every $1,000 principal quantity of securities that you just maintain, plus accrued however unpaid curiosity payable on the Maturity Date. |
| · | On every Curiosity Fee Date, we pays curiosity at a hard and fast fee of 4.15% each year ($10.375 per quarterly Curiosity Interval per safety). |
| · | We might redeem the securities, in complete however not partially, on any Early Redemption Date. No curiosity will accrue or be payable following an Early Redemption. |
| · | Senior unsecured obligations of Credit score Suisse maturing February 29, 2024. Any fee on the securities is topic to our capacity to pay our obligations as they change into due. |
| · | Minimal buy of $1,000. Minimal denominations of $1,000 and integral multiples of $1,000 in extra thereof. |
| · | The securities priced on August 29, 2022 (the “Commerce Date”), and the securities are anticipated to choose August 31, 2022 (the “Settlement Date”). Supply of the securities in book-entry type solely will probably be made by The Depository Belief Firm. |
| · | The securities is not going to be listed on any change. |
Investing within the securities entails a quantity
of dangers. See “Chosen Danger Issues” starting on web page Four of this pricing complement and “Danger Elements”
starting on web page PS-Three of the accompanying product complement.
Neither the Securities and Trade Fee nor
any state securities fee has authorised or disapproved of the securities or handed upon the accuracy or the adequacy of this pricing
complement or the accompanying product complement, the prospectus complement and the prospectus. Any illustration on the contrary is
a prison offense.
| Worth to Public(1) | Underwriting Reductions and Commissions(2) | Proceeds to Issuer | |
| Per safety | $1,000 | $3.60 | $996.40 |
| Complete | $6,039,000 | $21,740.40 | $6,017,259.60 |
(1) The providing value for an eligible institutional investor
and an investor buying the securities in a fee-based advisory account will differ primarily based on then-current market situations and the negotiated
value decided on the time of every sale; offered, nonetheless, the providing value for such traders is not going to be lower than $996.40 per
safety and won’t be greater than $1,000 per safety. The providing value for such traders displays a foregone promoting concession
with respect to such gross sales as described in footnote (2) under.
(2) Wells Fargo Securities, LLC (“WFS”) is the
agent for the distribution of the securities. WFS will obtain reductions and commissions of $3.60 per safety, and from such reductions
and commissions will permit chosen sellers a promoting concession of $3.60 per safety relying on market situations which are related
to the worth of the securities on the time an order to buy the securities is submitted to the agent. Sellers who buy the securities
for gross sales to eligible institutional traders and fee-based advisory accounts might forgo some or all promoting concessions. For extra detailed
info, please see “Supplemental Plan of Distribution” on this pricing complement.
Credit score Suisse at the moment estimates the worth of every $1,000 principal
quantity of the securities on the Commerce Date is $990 (as decided by reference to our pricing fashions and the speed we’re at the moment paying
to borrow funds by issuance of the securities (our “inner funding fee”)). See “Chosen Danger Issues”
on this pricing complement.
The securities will not be deposit liabilities and will not be insured or
assured by the Federal Deposit Insurance coverage Company or another governmental company of the USA, Switzerland or another
jurisdiction.
Wells Fargo Securities
August 29, 2022
Key Phrases
Issuer
Credit score Suisse AG (“Credit score Suisse”), performing
by its London department
Redemption Quantity
Topic to Early Redemption, at maturity, you’ll obtain
a money fee of $1,000 for every $1,000 principal quantity of securities that you just maintain, plus accrued however unpaid curiosity payable on the
Maturity Date. Any fee on the securities is topic to our capacity to pay our obligations as they change into due.
Early Redemption
Previous to the Maturity Date, we might redeem the securities in complete, however not partially, on any Early Redemption Date upon no less than 5
Enterprise Days’ discover to the trustee for a money fee equal to $1,000 for every $1,000 principal quantity of securities that you just
maintain (the “Early Redemption Quantity”), along with any accrued however unpaid curiosity on that Early Redemption Date. No curiosity
will accrue or be payable following an Early Redemption.
Early Redemption Dates
Quarterly on the final calendar day of every February, Might, August and November previous to the Maturity Date, starting on November 30,
2022. If any Early Redemption Date is just not a enterprise day, the Early Redemption Quantity will probably be payable on the primary following enterprise
day, until that enterprise day falls within the subsequent calendar month, by which case fee will probably be made on the primary previous enterprise day.
No further curiosity or another fee will probably be payable hereon due to any postponement of an Early Redemption Date. No curiosity
will accrue or be payable following an Early Redemption. Curiosity payable on the Early Redemption Date will probably be payable to the individual to
whom the Early Redemption Quantity is payable.
Curiosity
On every Curiosity Fee Date, for every $1,000 principal quantity of securities, you’ll obtain an curiosity fee in respect of the
instantly previous Curiosity Interval, calculated as follows:
Curiosity Charge × $1,000 ×
Day Rely Fraction
Curiosity Charge
For every Curiosity Interval,
4.15% each year ($10.375 per quarterly Curiosity Interval per safety).
Curiosity Durations
The interval from and together with the Settlement Date to however
excluding the primary Curiosity Fee Date, and every successive interval from and together with an Curiosity Fee Date to however excluding the
subsequent succeeding Curiosity Fee Date.
Curiosity Fee Dates
Curiosity funds will probably be made on the final calendar day
of every February, Might, August and November, starting on November 30, 2022, by and together with the sooner of the Early Redemption
Date and the Maturity Date, as relevant. If any Curiosity Fee Date is just not a enterprise day, the curiosity fee will probably be payable on
the primary following enterprise day, until that enterprise day falls within the subsequent calendar month, by which case fee will probably be made on the
first previous enterprise day. The quantity of any curiosity is not going to be adjusted in respect of any adjustment of an Curiosity Fee Date
and no curiosity will probably be payable hereon due to any postponement of an Curiosity Fee Date. No curiosity will accrue or be payable
following an Early Redemption. Curiosity will probably be payable to the holder of report on the shut of enterprise on the Enterprise Day instantly
previous the relevant Curiosity Fee Date, offered that the curiosity payable on the Early Redemption Date or Maturity Date, as relevant,
will probably be payable to the individual to whom the Early Redemption Quantity or the Redemption Quantity, as relevant, is payable.
Callable Mounted Charge Securities 1
Day Rely Fraction
30/360 unadjusted
Enterprise Day
Any day, apart from a Saturday, Sunday or a day on which
banking establishments within the Metropolis of New York are typically approved or obligated by regulation or government order to shut.
Calculation Agent
Credit score Suisse Worldwide
| Commerce Date | August 29, 2022 | |
| Settlement Date | Anticipated to be August 31, 2022 | |
| Maturity Date | February 29, 2024 | If the Maturity Date is just not a enterprise day, the Redemption Quantity will probably be payable on the primary following enterprise day, until that enterprise day falls within the subsequent calendar month, by which case fee will probably be made on the primary previous enterprise day. No further curiosity or another fee will probably be payable due to any postponement of the Maturity Date. |
Occasions of Default and Acceleration
In case an occasion of default (as outlined within the accompanying
prospectus) with respect to any securities shall have occurred and be persevering with, the quantity declared due and payable upon any acceleration
of the securities (in accordance with the acceleration provisions set forth within the accompanying prospectus) shall be an quantity in money
equal to the acknowledged principal quantity plus accrued however unpaid curiosity.
With respect to those securities, the primary bullet of the
first sentence of “Description of Debt Securities- Occasions of Default” within the accompanying prospectus is amended to learn in its
entirety as follows:
| · | a default in fee of the principal or any premium on any debt safety of that sequence when due, and such default continues for 30 days; |
CUSIP
22553QHA8
Callable Mounted Charge Securities 2
Further Phrases Particular to the Securities
It’s best to learn this pricing complement along with the
product complement dated November 10, 2020, the prospectus complement dated June 18, 2020 and the prospectus dated June 18, 2020, relating
to our Medium-Time period Notes of which these securities are an element. You might entry these paperwork on the SEC web site at www.sec.gov as follows
(or if such tackle has modified, by reviewing our filings for the related date on the SEC web site):
• Product Complement No. IR-I dated November 10,
2020:
https://www.sec.gov/Archives/edgar/information/1053092/000095010320021949/dp139998_424b2-iri.htm
• Prospectus Complement and Prospectus dated June
18, 2020:
https://www.sec.gov/Archives/edgar/information/1053092/000110465920074474/tm2019510-8_424b2.htm
Within the occasion the phrases of the securities described on this
pricing complement differ from, or are inconsistent with, the phrases described within the product complement, the prospectus complement or
prospectus, the phrases described on this pricing complement will management.
Our Central Index Key, or CIK, on the SEC web site is 1053092.
As used on this pricing complement, “we,” “us,” or “our” refers to Credit score Suisse.
This pricing complement, along with the paperwork listed
above, accommodates the phrases of the securities and supersedes all different prior or contemporaneous oral statements in addition to another written
supplies together with preliminary or indicative pricing phrases, truth sheets, correspondence, commerce concepts, constructions for implementation,
pattern constructions, brochures or different academic supplies of ours. We might, with out the consent of the registered holder of the securities
and the proprietor of any helpful curiosity within the securities, amend the securities to evolve to its phrases as set forth on this pricing
complement and the paperwork listed above, and the trustee is allowed to enter into any such modification with none such consent. You
ought to rigorously take into account, amongst different issues, the issues set forth in “Chosen Danger Issues” on this pricing complement
and “Danger Elements” within the product complement, “Overseas Forex Dangers” within the accompanying prospectus, and any
danger components we describe within the mixed Annual Report on Kind 20-F of Credit score Suisse Group AG and us included by reference therein,
and any further danger components we describe in future filings we make with the SEC below the Securities Trade Act of 1934, as amended,
because the securities contain dangers not related to typical debt securities. It’s best to seek the advice of your funding, authorized, tax, accounting
and different advisors earlier than deciding to spend money on the securities.
Callable Mounted Charge Securities 3
Chosen Danger Issues
An funding within the
securities entails important dangers. This part describes materials dangers regarding an funding within the securities. These dangers
are defined in additional element within the “Danger Elements” part of the accompanying product complement.
Dangers Regarding the Securities Typically
THE SECURITIES ARE SUBJECT TO THE CREDIT RISK OF CREDIT
SUISSE
Buyers are dependent
on our capacity to pay all quantities due on the securities and, due to this fact, if we have been to default on our obligations, it’s possible you’ll not obtain
any quantities owed to you below the securities. As well as, any decline in our credit score scores, any antagonistic modifications available in the market’s
view of our creditworthiness or any improve in our credit score spreads is prone to adversely have an effect on the worth of the securities previous to
maturity.
THE SECURITIES ARE SUBJECT TO A POTENTIAL EARLY REDEMPTION,
WHICH WOULD LIMIT YOUR ABILITY TO BE PAID INTEREST OVER THE FULL TERM OF THE SECURITIES
The securities are topic
to a possible early redemption. Previous to maturity, we might redeem the securities on any Early Redemption Date, upon no less than 5 Enterprise
Days’ discover to the trustee. Market occasions might have an effect on our choice to redeem the securities. For instance, it’s extra doubtless that
Credit score Suisse will redeem the securities previous to the Maturity Date at a time when Credit score Suisse believes it might challenge a comparable
debt safety with a decrease rate of interest.
If the securities are redeemed previous to the Maturity Date, you’ll obtain a money fee equal to the principal quantity of your securities
and any accrued however unpaid curiosity on that Early Redemption Date, and no additional funds will probably be made in respect of the securities.
On this case, you’ll lose the chance to proceed to be paid curiosity from the date of Early Redemption to the scheduled Maturity
Date. If the securities are redeemed previous to the Maturity Date, it’s possible you’ll be unable to spend money on different securities with the same stage
of danger that offer you the chance to be paid the identical curiosity funds because the securities.
REGARDLESS OF THE AMOUNT OF ANY PAYMENT YOU RECEIVE ON THE SECURITIES, YOUR ACTUAL YIELD MAY BE DIFFERENT IN REAL VALUE TERMS
Inflation might trigger the
actual worth of any fee you obtain on the securities to be much less at maturity than it’s on the time you make investments. An funding within the
securities additionally represents a forgone alternative to spend money on another asset that generates the next actual return. It’s best to rigorously
take into account whether or not an funding which will lead to a return that’s decrease than the return on different investments is suitable for
you.
Dangers Regarding the Issuer
CREDIT SUISSE IS SUBJECT TO SWISS REGULATION
As a Swiss financial institution, Credit score
Suisse is topic to regulation by governmental businesses, supervisory authorities and self-regulatory organizations in Switzerland. Such
regulation is more and more extra in depth and sophisticated and topics Credit score Suisse to dangers. For instance, pursuant to Swiss banking legal guidelines,
the Swiss Monetary Market Supervisory Authority (FINMA) might open decision proceedings if there are justified considerations that Credit score Suisse
is over-indebted, has critical liquidity issues or not fulfills capital adequacy necessities. FINMA has broad powers and discretion
within the case of decision proceedings, which embody the ability to transform debt devices and different liabilities of Credit score Suisse into
fairness and/or cancel such liabilities in complete or partially. If a number of of those measures have been imposed, such measures might adversely
have an effect on the phrases and market worth of the securities and/or the flexibility of Credit score Suisse to make funds thereunder and it’s possible you’ll not obtain
any quantities owed to you below the securities.
Callable Mounted Charge Securities 4
Dangers Regarding Conflicts of Curiosity
POTENTIAL CONFLICTS
We and our associates
play quite a lot of roles in reference to the issuance of the securities, together with performing as calculation agent and as agent of the issuer
for the providing of the securities, hedging our obligations below the securities and figuring out their estimated worth. In performing
these duties, the financial pursuits of us and our associates are doubtlessly antagonistic to your pursuits as an investor within the securities.
Additional, hedging actions might adversely have an effect on any fee on or the worth of the securities. Any revenue in reference to such hedging
actions will probably be along with another compensation that we and our associates obtain for the sale of the securities, which creates
an extra incentive to promote the securities to you.
Dangers Regarding the Estimated Worth and Secondary
Market Costs of the Securities
UNPREDICTABLE ECONOMIC AND MARKET FACTORS WILL AFFECT
THE VALUE OF THE SECURITIES
The payout on the securities
may be replicated utilizing a mixture of the elements described in “The estimated worth of the securities on the Commerce Date is
lower than the Worth to Public.” Due to this fact, the phrases of the securities at issuance and the worth of the securities previous to maturity
could also be influenced by components that affect the worth of mounted revenue securities and choices generally, reminiscent of:
| · | the time to maturity of the securities; |
| · | modifications in U.S. curiosity and swap charges; |
| · | provide and demand for the securities; |
| · | curiosity and yield charges available in the market typically; |
| · | traders’ expectations with respect to the speed of inflation; |
| · | geopolitical situations and financial, monetary, political, regulatory, judicial or different occasions that have an effect on the curiosity and yield charges or markets typically; and |
| · | our creditworthiness, together with precise or anticipated downgrades in our credit score scores. |
Some or all of those components might affect
the value that you’ll obtain for those who select to promote your securities previous to maturity. The affect of any of the components set forth above
might improve or offset some or all of any change ensuing from one other issue or components.
THE ESTIMATED VALUE OF THE SECURITIES ON THE TRADE DATE IS LESS THAN THE PRICE TO PUBLIC
The preliminary estimated worth of your securities
on the Commerce Date (as decided by reference to our pricing fashions and our inner funding fee) is lower than the unique Worth to
Public. The Worth to Public of the securities contains any reductions or commissions in addition to transaction prices reminiscent of bills incurred
to create, doc and market the securities and the price of hedging our dangers as issuer of the securities by a number of of our
associates (which features a projected revenue). These prices will probably be successfully borne by you as an investor within the securities. These quantities
will probably be retained by Credit score Suisse or our associates in reference to our structuring and providing of the securities (besides to the extent
reductions or commissions are reallowed to different broker-dealers or any prices are paid to 3rd events).
On the Commerce Date, we worth the elements
of the securities in accordance with our pricing fashions. These embody a hard and fast revenue part valued utilizing our inner funding fee,
and particular person possibility elements valued utilizing proprietary pricing fashions depending on inputs reminiscent of volatility, correlation, dividend
charges, rates of interest and different components, together with assumptions about future market occasions and/or environments. These inputs could also be market-observable
or could also be primarily based on assumptions made by us in our discretionary judgment. As such, the payout on the securities may be replicated utilizing
a mixture of those elements and the worth of those elements, as decided by us utilizing our pricing fashions, will affect the phrases
of the securities at issuance. Our possibility valuation fashions are proprietary. Our pricing fashions take note of components reminiscent of curiosity
charges, volatility and time to maturity of the securities, and so they rely partially on sure assumptions about future occasions, which can
show to be incorrect.
Callable Mounted Charge Securities 5
As a result of Credit score Suisse’s pricing
fashions might differ from different issuers’ valuation fashions, and since funding charges taken into consideration by different issuers might differ materially
from the charges utilized by Credit score Suisse (even amongst issuers with related creditworthiness), our estimated worth at any time might not be comparable
to estimated values of comparable securities of different issuers.
EFFECT OF INTEREST RATE USED IN STRUCTURING
THE SECURITIES
The interior funding fee we use in structuring
notes reminiscent of these securities is often decrease than the rate of interest that’s mirrored within the yield on our typical debt securities
of comparable maturity within the secondary market (our “secondary market credit score spreads”). If on the Commerce Date our inner funding
fee is decrease than our secondary market credit score spreads, we count on that the financial phrases of the securities will typically be much less favorable
to you than they might have been if our secondary market credit score unfold had been utilized in structuring the securities. We may even use our
inner funding fee to find out the value of the securities if we put up a bid to repurchase your securities in secondary market transactions.
See “—Secondary Market Costs” under.
SECONDARY MARKET PRICES
If Credit score Suisse (or an affiliate) bids
to your securities in secondary market transactions, which we’re not obligated to do, the secondary market value (and the worth used
for account statements or in any other case) could also be greater or decrease than the Worth to Public and the estimated worth of the securities on the
Commerce Date. The estimated worth of the securities on the quilt of this pricing complement doesn’t characterize a minimal value at which
we might be prepared to purchase the securities within the secondary market (if any exists) at any time. The secondary market value of your securities
at any time can’t be predicted and can mirror the then-current estimated worth decided by reference to our pricing fashions, the associated
inputs and different components, together with our inner funding fee, customary bid and ask spreads and different transaction prices, modifications in market
situations and deterioration or enchancment in our creditworthiness. In circumstances the place our inner funding fee is greater than our
secondary market credit score spreads, our secondary market bid to your securities may very well be much less favorable than what different sellers may bid
as a result of, assuming all else equal, we use the upper inner funding fee to cost the securities and different sellers may use the decrease
secondary market credit score unfold to cost them. Moreover, assuming no change in market situations from the Commerce Date, the secondary
market value of your securities will probably be decrease than the Worth to Public as a result of it is not going to embody any reductions or commissions and hedging
and different transaction prices. Should you promote your securities to a vendor in a secondary market transaction, the vendor might impose an extra
low cost or fee, and in consequence the value you obtain in your securities could also be decrease than the value at which we might repurchase
the securities from such vendor.
We (or an affiliate) might initially put up
a bid to repurchase the securities from you at a value that may exceed the then-current estimated worth of the securities. That greater
value displays our projected revenue and prices, which can embody reductions and commissions that have been included within the Worth to Public,
and that greater value can also be initially used for account statements or in any other case. We (or our affiliate) might supply to pay this greater
value, to your profit, however the quantity of any extra over the then-current estimated worth will probably be non permanent and is predicted to say no
over a interval of roughly three months.
The securities will not be designed to be
short-term buying and selling devices and any sale previous to maturity might lead to a considerable loss to you. You need to be prepared and in a position
to carry your securities to maturity.
LACK OF LIQUIDITY
The securities is not going to be listed on any
securities change. Credit score Suisse (or its associates) intends to supply to buy the securities within the secondary market however is just not
required to take action. Even when there’s a secondary market, it might not present sufficient liquidity to help you commerce or promote the securities
if you want to take action. As a result of different sellers will not be prone to make a secondary marketplace for the securities, the value at which you will
have the ability to commerce your securities is prone to depend upon the value, if any, at which Credit score Suisse (or its associates) is prepared to purchase
the securities. If you need to promote your securities previous to maturity, you might not be in a position to take action or you might have to promote them at a
substantial loss.
Callable Mounted Charge Securities 6
Supplemental Use of Proceeds and Hedging
We intend to make use of the
proceeds of this providing for our normal company functions, which can embody the refinancing of current debt exterior Switzerland.
Some or the entire proceeds we obtain from the sale of the securities could also be utilized in reference to hedging our obligations below the
securities by a number of of our associates. For added info, see “Supplemental Use of Proceeds and Hedging”
within the accompanying product complement.
Callable Mounted Charge Securities 7
United States Federal Tax Issues
Within the opinion of our tax counsel, Davis Polk & Wardwell
LLP, the securities ought to be handled for U.S. federal revenue tax functions as mounted fee debt devices which are issued with out authentic
challenge low cost.
Each U.S. and non-U.S. individuals contemplating an funding
within the securities ought to learn the dialogue below “United States Federal Tax Issues” within the accompanying product
complement for extra info.
Callable Mounted Charge Securities 8
Supplemental Plan of Distribution
Below the phrases of the distributor accession affirmation
with WFS dated as of August 1, 2016, WFS will act as agent for the securities and can obtain reductions and commissions of $3.60 per
safety, and from such reductions and commissions will permit chosen sellers a promoting concession of $3.60 per safety relying on
market situations which are related to the worth of the securities on the time an order to buy the securities is submitted to the
agent. Sellers who buy the securities for gross sales to eligible institutional traders and fee-based advisory accounts might forgo some
or all promoting concessions. If the entire supplied securities will not be bought on the Commerce Date on the Worth to Public, the agent and/or sellers
might change the providing value and the opposite promoting phrases and thereafter occasionally might supply the securities on the market in a single or
extra transactions at market costs prevailing on the time of sale, at costs associated to market costs or at negotiated costs. For additional
info, please seek advice from “Underwriting (Conflicts of Curiosity)” in any accompanying product complement.
We count on to ship the securities in opposition to fee for
the securities on the Settlement Date indicated herein, which can be a date that’s larger than two enterprise days following the Commerce
Date. Below Rule 15c6-1 of the Securities Trade Act of 1934, as amended, trades within the secondary market typically are required to settle
in two enterprise days, until the events to a commerce expressly agree in any other case. Accordingly, if the Settlement Date is greater than two enterprise
days after the Commerce Date, purchasers who want to transact within the securities greater than two enterprise days previous to the Settlement Date
will probably be required to specify different settlement preparations to forestall a failed settlement.
Callable Mounted Charge Securities 9
Validity of the Securities
Within the opinion of Davis Polk & Wardwell LLP, as United
States counsel to Credit score Suisse, when the securities supplied by this pricing complement have been executed and issued by Credit score Suisse
and authenticated by the trustee pursuant to the indenture, and delivered in opposition to fee therefor, such securities will probably be legitimate and
binding obligations of Credit score Suisse, enforceable in opposition to Credit score Suisse in accordance with their phrases, topic to (i) relevant chapter,
insolvency and related legal guidelines affecting collectors’ rights typically, (ii) ideas of reasonableness and equitable ideas of normal
applicability (together with, with out limitation, ideas of fine religion, honest dealing and the dearth of unhealthy religion) and (iii) attainable judicial
or regulatory actions or utility giving impact to governmental actions or international legal guidelines affecting collectors’ rights, offered
that such counsel expresses no opinion as to the impact of fraudulent conveyance, fraudulent switch or related provision of relevant
regulation on the conclusions expressed above. This opinion is given as of the date of this pricing complement and is proscribed to the legal guidelines of
the State of New York, besides that such counsel expresses no opinion as to the appliance of state securities or Blue Sky legal guidelines to the
securities. Insofar as this opinion entails issues ruled by Swiss regulation, Davis Polk & Wardwell LLP has relied, with out unbiased
inquiry or investigation, on the opinion of Homburger AG, dated August 12, 2022 and filed by Credit score Suisse as an exhibit to a Present
Report on Kind 6-Ok on August 12, 2022. The opinion of Davis Polk & Wardwell LLP is topic to the identical assumptions, {qualifications}
and limitations with respect to such issues as are contained within the opinion of Homburger AG. As well as, the opinion of Davis Polk &
Wardwell LLP is topic to customary assumptions in regards to the institution of the phrases of the securities, the trustee’s authorization,
execution and supply of the indenture and its authentication of the securities, and the validity, binding nature and enforceability
of the indenture with respect to the trustee, all as acknowledged within the opinion of Davis Polk & Wardwell LLP dated August 12, 2022, which
was filed by Credit score Suisse as an exhibit to a Present Report on Kind 6-Ok on August 12, 2022. Davis Polk & Wardwell LLP expresses no
opinion as to waivers of objections to venue, the subject material or private jurisdiction of a United States federal courtroom or the effectiveness
of service of course of apart from in accordance with relevant regulation. As well as, such counsel notes that the enforceability within the United
States of Part 10.08(c) of the indenture is topic to the constraints set forth in the USA Overseas Sovereign Immunities
Act of 1976.
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CREDIT SUISSE SECURITIES (USA) LLC credit-suisse.com |
| Copyright © 2022 Credit score Suisse Group AG and/or its associates. All rights reserved. |
ATTACHMENTS / EXHIBITS
