<SEC-DOCUMENT>0000950103-23-001780.txt : 20230202
<SEC-HEADER>0000950103-23-001780.hdr.sgml : 20230202
<ACCEPTANCE-DATETIME>20230202152357
ACCESSION NUMBER:		0000950103-23-001780
CONFORMED SUBMISSION TYPE:	424B2
PUBLIC DOCUMENT COUNT:		6
FILED AS OF DATE:		20230202
DATE AS OF CHANGE:		20230202

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			CREDIT SUISSE AG
		CENTRAL INDEX KEY:			0001053092
		STANDARD INDUSTRIAL CLASSIFICATION:	SECURITY BROKERS, DEALERS & FLOTATION COMPANIES [6211]
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			V8
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		424B2
		SEC ACT:		1933 Act
		SEC FILE NUMBER:	333-238458-02
		FILM NUMBER:		23580496

	BUSINESS ADDRESS:	
		STREET 1:		PARADEPLATZ 8
		CITY:			ZURICH
		STATE:			V8
		ZIP:			8001
		BUSINESS PHONE:		01141 44 333 1111

	MAIL ADDRESS:	
		STREET 1:		P.O. BOX 1
		CITY:			ZURICH
		STATE:			V8
		ZIP:			8070

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	CREDIT SUISSE / /FI
		DATE OF NAME CHANGE:	20050607

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	CREDIT SUISSE FIRST BOSTON /                            /FI
		DATE OF NAME CHANGE:	19980115
</SEC-HEADER>
<DOCUMENT>
<TYPE>424B2
<SEQUENCE>1
<FILENAME>dp188326_424b2-k2216.htm
<DESCRIPTION>FORM 424B2
<TEXT>
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    <TD STYLE="width: 100%; border: Black 1pt solid; text-align: right; font-size: 12pt; font-weight: bold">FINANCIAL PRODUCTS</TD></TR>
  </TABLE><TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
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    <TD STYLE="width: 63%; font-size: 10pt"><FONT STYLE="font-size: 10pt"><B>Pricing Supplement No. K2216</B><BR>
To Product Supplement No. I-C dated February 4, 2022,<BR>
Prospectus Supplement dated June 18, 2020 and<BR>
Prospectus dated June 18, 2020</FONT></TD>
    <TD STYLE="padding-left: 2pt; width: 37%; text-align: right; font-size: 10pt"><FONT STYLE="font-size: 10pt">Filed Pursuant to Rule 424(b)(2)<BR>
Registration Statement No. 333-238458-02<BR>
January 31, 2023</FONT></TD></TR>
  </TABLE>

<P STYLE="font: 20pt Arial, Helvetica, Sans-Serif; margin: 0">$1,082,000</P>

<P STYLE="font: 28pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">Buffered Accelerated Return Equity Securities due August
4, 2025</P>

<P STYLE="font: 14pt Arial, Helvetica, Sans-Serif; margin: 2pt 0 0">Linked to the Performance of the iShares<SUP>&reg;</SUP> Core S&amp;P
Small-Cap ETF</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 17.85pt"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>Investors will not receive any interest or dividend payments and may lose a significant portion of their principal at maturity.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 17.85pt"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>At maturity, if the Final Level is equal to or greater than the Initial Level, investors will receive the principal amount of their
investment plus a return based on the leveraged upside performance of the Underlying. If the Final Level is less than the Initial Level
but greater than or equal to the Buffer Level, investors will receive the principal amount of their investment.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 17.85pt"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>However, if the Final Level is less than the Buffer Level, investors will lose 1% of their principal for each 1% decline from the
Initial Level to the Final Level beyond the Buffer Level. <B>You could lose up to $900 per $1,000 principal amount.</B></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 17.85pt"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>Senior unsecured obligations of Credit Suisse maturing August 4, 2025. Any payment on the securities is subject to our ability to
pay our obligations as they become due.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 17.85pt"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>Minimum purchase of $1,000. Minimum denominations of $1,000 and integral multiples of $1,000 in excess thereof.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 17.85pt"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>The offering price for the securities was determined on January 31, 2023 (the &ldquo;Trade Date&rdquo;), and the securities are expected
to settle on February 3, 2023 (the &ldquo;Settlement Date&rdquo;). Delivery of the securities in book-entry form only will be made through
The Depository Trust Company.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 17.85pt"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>The securities will not be listed on any exchange.</TD></TR></TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 1pt 0 0"><B>Investing in the securities involves a number of risks. See &ldquo;Selected
Risk Considerations&rdquo; beginning on page 6 of this pricing supplement and &ldquo;Risk Factors&rdquo; beginning on page PS-3 of the
accompanying product supplement.</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 1pt 0 0">Neither the Securities and Exchange Commission nor any state securities
commission has approved or disapproved of the securities or passed upon the accuracy or the adequacy of this pricing supplement or the
product supplement, the prospectus supplement and the prospectus. Any representation to the contrary is a criminal offense.</P>

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    <TD STYLE="padding-right: 2pt; vertical-align: top; width: 25%; border: Black 1pt solid; padding-left: 2pt">&nbsp;</TD>
    <TD STYLE="padding-right: 2pt; width: 25%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center; padding-left: 2pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>Price to Public<SUP>(1)</SUP></B></FONT></TD>
    <TD STYLE="padding-right: 2pt; width: 25%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center; padding-left: 2pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>Underwriting Discounts and Commissions<SUP>(2)</SUP></B></FONT></TD>
    <TD STYLE="padding-right: 2pt; width: 25%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center; padding-left: 2pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>Proceeds to Issuer</B></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 2pt; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-left: 2pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>Per security</B></FONT></TD>
    <TD STYLE="padding-right: 2pt; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center; padding-left: 2pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>$1,000</B></FONT></TD>
    <TD STYLE="padding-right: 2pt; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center; padding-left: 2pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>$7.50</B></FONT></TD>
    <TD STYLE="padding-right: 2pt; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center; padding-left: 2pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>$992.50</B></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 2pt; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-left: 2pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>Total</B></FONT></TD>
    <TD STYLE="padding-right: 2pt; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center; padding-left: 2pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>$1,082,000</B></FONT></TD>
    <TD STYLE="padding-right: 2pt; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center; padding-left: 2pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>$8,115</B></FONT></TD>
    <TD STYLE="padding-right: 2pt; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center; padding-left: 2pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>$1,073,885</B></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"><SUP>(1)</SUP> Certain fiduciary accounts may pay a purchase price of at
least $992.50 per $1,000 principal amount of securities.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"><SUP>(2)</SUP> We or one of our affiliates will pay discounts and commissions
of $7.50 per $1,000 principal amount of securities. CSSU or another broker or dealer will forgo some or all discounts and commissions
with respect to the sales of securities into certain fiduciary accounts. For more detailed information, please see &ldquo;Supplemental
Plan of Distribution (Conflicts of Interest)&rdquo; in this pricing supplement.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">The agent for this offering, Credit Suisse Securities (USA) LLC (&ldquo;CSSU&rdquo;),
is our affiliate. For more information, see &ldquo;Supplemental Plan of Distribution (Conflicts of Interest)&rdquo; in this pricing supplement.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"><B>Credit Suisse currently estimates the value of each $1,000 principal
amount of the securities on the Trade Date is $979.50 (as determined by reference to our pricing models and the rate we are currently
paying to borrow funds through issuance of the securities (our &ldquo;internal funding rate&rdquo;)). See &ldquo;Selected Risk Considerations&rdquo;
in this pricing supplement.</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"><I>The securities are not deposit liabilities and are not insured or guaranteed
by the Federal Deposit Insurance Corporation or any other governmental agency of the United States, Switzerland or any other jurisdiction.</I></P>

<P STYLE="font: bold 18pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center">Credit Suisse</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center">January 31, 2023</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center">&nbsp;</P>


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<P STYLE="font: 24pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">Key Terms</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>





<!-- Field: Rule-Page --><DIV STYLE="margin-top: 3pt; margin-bottom: 3pt; width: 15%"><DIV STYLE="font-size: 1pt; border-top: Black 1pt solid">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 127.6pt">Issuer</P>

<P STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 127.6pt">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 127.45pt">Credit Suisse AG (&ldquo;Credit Suisse&rdquo;), acting
through its London branch</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 127.45pt">&nbsp;</P>

<P STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 127.6pt">Underlying</P>

<P STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 127.6pt">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 127.45pt">The securities are linked to the performance of the Underlying
set forth in the table below. For more information on the Underlying, see &ldquo;The Underlying&rdquo; herein. The Underlying is identified
in the table below, together with its Reuters ticker symbol, Initial Level and Buffer Level:</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 127.45pt">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 75%; font: 10pt Arial, Helvetica, Sans-Serif; border-collapse: collapse; margin-left: 127.45pt">
  <TR STYLE="background-color: white">
    <TD STYLE="width: 20%; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>Underlying</B></FONT></TD>
    <TD STYLE="width: 20%; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>Ticker</B></FONT></TD>
    <TD STYLE="width: 19%; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>Initial Level</B></FONT></TD>
    <TD STYLE="width: 41%; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>Buffer Level</B></FONT></TD></TR>
  <TR STYLE="background-color: white">
    <TD STYLE="vertical-align: top; text-align: center; font-size: 10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">iShares<SUP>&reg;</SUP> Core S&amp;P Small-Cap ETF</FONT></TD>
    <TD STYLE="text-align: center; font-size: 10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">IJR UP &lt;Equity&gt;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">$103.64</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">$93.276 (90% of Initial Level)</FONT></TD></TR>
  </TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>
<P STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 127.6pt">Upside Participation Rate</P>

<P STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 127.6pt">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 127.45pt">125%</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 127.45pt">&nbsp;</P>

<P STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 127.6pt">Redemption Amount</P>

<P STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 127.6pt">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 127.45pt">At maturity, for each $1,000 principal amount of securities,
you will receive a Redemption Amount in cash that will equal $1,000 multiplied by the sum of one plus the Security Performance Factor,
calculated as set forth below. Any payment on the securities is subject to our ability to pay our obligations as they become due.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 127.45pt">&nbsp;</P>

<P STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 127.6pt">Security Performance Factor</P>

<P STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 127.6pt">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 127.6pt"><FONT STYLE="font-weight: normal">The Security Performance
Factor is expressed as a percentage and is calculated as follows:</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 127.6pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 145.45pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>If the Final Level is equal to or greater than the Initial Level, the Security Performance Factor will equal the product of (i) the
Upside Participation Rate multiplied by (ii) the Underlying Return.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 145.45pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>If the Final Level is less than the Initial Level but greater than or equal to the Buffer Level, the Security Performance Factor will
equal zero.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 145.45pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>If the Final Level is less than the Buffer Level, the Security Performance Factor will equal the sum of (i) the Underlying Return
plus (ii) the Buffer Amount.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 2in"><B>If the Final Level is less than the Buffer Level, the Security
Performance Factor will be negative and you will receive less than the principal amount of your securities at maturity. You could lose
up to $900 per $1,000 principal amount.</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 2in">&nbsp;</P>

<P STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 127.6pt">Underlying Return</P>

<P STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 127.6pt">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 127.6pt"><FONT STYLE="font-weight: normal">An amount calculated as
follows:</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 127.6pt">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 3in; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 11pt"><IMG SRC="image_002.jpg" ALT="" STYLE="height: 30px; width: 131px"></FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 3in; text-align: center">&nbsp;</P>

<P STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 127.6pt">The Underlying Return will be negative if the Final
Level is less than the Initial Level.</P>

<P STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 127.6pt">&nbsp;</P>

<P STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 127.6pt">Buffer Amount</P>

<P STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 127.6pt">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 127.45pt">10%</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 127.45pt">&nbsp;</P>

<P STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 127.6pt">Initial Level</P>

<P STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 127.6pt">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 127.45pt">The closing level of the Underlying on the Trade Date,
as set forth in the table above.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 127.45pt">&nbsp;</P>

<P STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 127.6pt">Final Level</P>

<P STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 127.6pt">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 127.45pt">The closing level of the Underlying on the Valuation Date.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 127.45pt">&nbsp;</P>


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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<TABLE CELLSPACING="0" CELLPADDING="2" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; width: 75%; border-collapse: collapse; margin-left: 127.45pt">
  <TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="width: 22%; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>Trade Date</B></FONT></TD>
    <TD STYLE="width: 33%; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">January 31, 2023</FONT></TD>
    <TD STYLE="width: 45%; border-bottom: Black 1pt solid">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="border-bottom: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black"><B>Settlement Date</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">Expected to be February 3, 2023</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="border-bottom: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black"><B>Valuation Date</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">July 30, 2025</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">Subject to postponement as set forth in any accompanying product supplement under &ldquo;Description of the Securities&mdash;Postponement of calculation dates.&rdquo;</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="border-bottom: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black"><B>Maturity Date</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">August 4, 2025</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">Subject to postponement as set forth in any accompanying product supplement under &ldquo;Description of the Securities&mdash;Postponement of calculation dates.&rdquo; If the Maturity Date is not a business day, the Redemption Amount will be payable on the first following business day, unless that business day falls in the next calendar month, in which case payment will be made on the first preceding business day.</FONT></TD></TR>
  </TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>
<P STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 127.6pt">Events of Default</P>

<P STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 127.6pt">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 127.6pt">With respect to these securities, the first bullet of the
first sentence of &ldquo;Description of Debt Securities&mdash; Events of Default&rdquo; in the accompanying prospectus is amended to read
in its entirety as follows:</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 127.6pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 145.45pt"></TD><TD STYLE="width: 17.85pt"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>a default in payment of the principal or any premium on any debt security of that series when due, and such default continues for
30 days;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;</P>

<P STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 127.6pt">CUSIP</P>

<P STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 127.6pt">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 127.45pt">22553QQ83</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 127.45pt">&nbsp;</P>


<!-- Field: Page; Sequence: 3 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Buffered Accelerated Return Equity Securities &nbsp;<!-- Field: Sequence; Type: Arabic; Name: PageNo -->2<!-- Field: /Sequence --></FONT></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 24pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">Additional Terms Specific to the Securities</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<!-- Field: Rule-Page --><DIV STYLE="margin-top: 3pt; margin-bottom: 3pt; width: 15%"><DIV STYLE="font-size: 1pt; border-top: Black 1pt solid">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 127.45pt">You should read this pricing supplement together with the
product supplement dated February 4, 2022, the prospectus supplement dated June 18, 2020 and the prospectus dated June 18, 2020, relating
to our Medium-Term Notes of which these securities are a part. You may access these documents on the SEC website at www.sec.gov as follows
(or if such address has changed, by reviewing our filings for the relevant date on the SEC website):</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 127.45pt">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 127.6pt; text-indent: 0in"><FONT STYLE="font-family: Symbol">&middot;&#9;</FONT>&nbsp;&nbsp;&nbsp;Product
Supplement No. I-C dated February 4, 2022:&nbsp;</P>

<P STYLE="color: blue; font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 2in"><U><A HREF="https://www.sec.gov/Archives/edgar/data/1053092/000095010322002048/dp166585_424b2-ic.htm" STYLE="color: rgb(41,109,193); text-decoration: underline">https://www.sec.gov/Archives/edgar/data/1053092/000095010322002048/dp166585_424b2-ic.htm</A></U></P>

<P STYLE="color: blue; font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 2in">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 127.6pt; text-indent: 0in"><FONT STYLE="font-family: Symbol">&middot;&#9;</FONT>&nbsp;&nbsp;&nbsp;Prospectus
Supplement and Prospectus dated June 18, 2020:&nbsp;</P>

<P STYLE="color: #0563C1; font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 2in"><A HREF="https://www.sec.gov/Archives/edgar/data/1053092/000110465920074474/tm2019510-8_424b2.htm" STYLE="color: rgb(41,109,193); text-decoration: underline">https://www.sec.gov/Archives/edgar/data/1053092/000110465920074474/tm2019510-8_424b2.htm</A></P>

<P STYLE="color: #0563C1; font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 2in">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 127.45pt">In the event the terms of the securities described in this
pricing supplement differ from, or are inconsistent with, the terms described in the product supplement, the prospectus supplement or
prospectus, the terms described in this pricing supplement will control.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 127.45pt">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 127.45pt">Our Central Index Key, or CIK, on the SEC website is 1053092.
As used in this pricing supplement, &ldquo;we,&rdquo; &ldquo;us,&rdquo; or &ldquo;our&rdquo; refers to Credit Suisse.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 127.45pt">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 127.45pt">This pricing supplement, together with the documents listed
above, contains the terms of the securities and supersedes all other prior or contemporaneous oral statements as well as any other written
materials including preliminary or indicative pricing terms, fact sheets, correspondence, trade ideas, structures for implementation,
sample structures, brochures or other educational materials of ours. We may, without the consent of the registered holder of the securities
and the owner of any beneficial interest in the securities, amend the securities to conform to their terms as set forth in this pricing
supplement and the documents listed above, and the trustee is authorized to enter into any such amendment without any such consent. You
should carefully consider, among other things, the matters set forth in &ldquo;Selected Risk Considerations&rdquo; in this pricing supplement
and &ldquo;Risk Factors&rdquo; in any accompanying product supplement, &ldquo;Foreign Currency Risks&rdquo; in the accompanying prospectus,
and any risk factors we describe in the combined Annual Report on Form 20-F of Credit Suisse Group AG and us incorporated by reference
therein, and any additional risk factors we describe in future filings we make with the SEC under the Securities Exchange Act of 1934,
as amended, as the securities involve risks not associated with conventional debt securities. You should consult your investment, legal,
tax, accounting and other advisors before deciding to invest in the securities.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 127.45pt">&nbsp;</P>


<!-- Field: Page; Sequence: 4 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Buffered Accelerated Return Equity Securities &nbsp;<!-- Field: Sequence; Type: Arabic; Name: PageNo -->3<!-- Field: /Sequence --></FONT></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 24pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">Hypothetical Redemption Amounts at Maturity</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<!-- Field: Rule-Page --><DIV STYLE="margin-top: 3pt; margin-bottom: 3pt; width: 15%"><DIV STYLE="font-size: 1pt; border-top: Black 1pt solid">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 127.45pt">The table and examples below make the following assumptions
and illustrate hypothetical Redemption Amounts payable at maturity on a $1,000 investment in the securities for a hypothetical range of
performance of the Underlying. The actual Upside Participation Rate, Buffer Level and Buffer Amount are set forth in &ldquo;Key Terms&rdquo;
herein. The hypothetical Redemption Amounts set forth below are for illustrative purposes only. The actual Redemption Amount applicable
to a purchaser of the securities will depend on the Final Level. It is not possible to predict whether or by how much the Final Level
will be less than the Buffer Level. You should consider carefully whether the securities are suitable to your investment goals. Any payment
on the securities is subject to our ability to pay our obligations as they become due. The numbers below have been rounded for ease of
analysis.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 127.45pt">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 50%; font: 10pt Arial, Helvetica, Sans-Serif; border-collapse: collapse; margin-left: 127.45pt">
  <TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="width: 42%; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>Principal Amount</B></FONT></TD>
    <TD STYLE="width: 58%; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">$1,000 per security</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="border-bottom: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>Buffer Level</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">90% of Initial Level</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="border-bottom: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>Buffer Amount</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">10%</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="border-bottom: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>Upside Participation Rate</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">125%</FONT></TD></TR>
  </TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>
<P STYLE="border-top: Black 1pt solid; font: bold 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 127.45pt">TABLE: Hypothetical Redemption Amounts</P>

<P STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 127.45pt">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 70%; font: 10pt Arial, Helvetica, Sans-Serif; border-collapse: collapse; margin-left: 127.45pt">
  <TR>
    <TD STYLE="width: 42%; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>Underlying Return</B></FONT></TD>
    <TD STYLE="width: 24%; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>Security Performance Factor</B></FONT></TD>
    <TD STYLE="width: 34%; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>Redemption Amount per $1,000 Principal Amount of Securities</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #D9D9D9 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">100%</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: #D9D9D9 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">125.00%</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: #D9D9D9 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">$2,250</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #D9D9D9 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">90%</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: #D9D9D9 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">112.50%</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: #D9D9D9 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">$2,125</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #D9D9D9 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">80%</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: #D9D9D9 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">100.00%</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: #D9D9D9 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">$2,000</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #D9D9D9 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">70%</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: #D9D9D9 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">87.50%</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: #D9D9D9 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">$1,875</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #D9D9D9 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">60%</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: #D9D9D9 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">75.00%</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: #D9D9D9 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">$1,750</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #D9D9D9 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">50%</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: #D9D9D9 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">62.50%</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: #D9D9D9 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">$1,625</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #D9D9D9 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">40%</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: #D9D9D9 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">50.00%</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: #D9D9D9 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">$1,500</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #D9D9D9 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">30%</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: #D9D9D9 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">37.50%</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: #D9D9D9 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">$1,375</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #D9D9D9 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">20%</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: #D9D9D9 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">25.00%</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: #D9D9D9 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">$1,250</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #D9D9D9 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">10%</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: #D9D9D9 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">12.50%</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: #D9D9D9 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">$1,125</FONT></TD></TR>
  <TR STYLE="background-color: #D9D9D9">
    <TD STYLE="border-bottom: #D9D9D9 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">0%</FONT></TD>
    <TD STYLE="border-bottom: #D9D9D9 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">0%</FONT></TD>
    <TD STYLE="border-bottom: #D9D9D9 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">$1,000</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #D9D9D9 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">-5%</FONT></TD>
    <TD STYLE="border-bottom: #D9D9D9 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">0%</FONT></TD>
    <TD STYLE="border-bottom: #D9D9D9 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">$1,000</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #D9D9D9 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">-10%</FONT></TD>
    <TD STYLE="border-bottom: #D9D9D9 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">0%</FONT></TD>
    <TD STYLE="border-bottom: #D9D9D9 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">$1,000</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: #D9D9D9">
    <TD STYLE="border-bottom: #D9D9D9 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">-11%</FONT></TD>
    <TD STYLE="border-bottom: #D9D9D9 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">-1%</FONT></TD>
    <TD STYLE="border-bottom: #D9D9D9 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">$990</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #D9D9D9 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">-20%</FONT></TD>
    <TD STYLE="border-bottom: #D9D9D9 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">-10%</FONT></TD>
    <TD STYLE="border-bottom: #D9D9D9 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">$900</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #D9D9D9 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">-30%</FONT></TD>
    <TD STYLE="border-bottom: #D9D9D9 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">-20%</FONT></TD>
    <TD STYLE="border-bottom: #D9D9D9 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">$800</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #D9D9D9 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">-40%</FONT></TD>
    <TD STYLE="border-bottom: #D9D9D9 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">-30%</FONT></TD>
    <TD STYLE="border-bottom: #D9D9D9 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">$700</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #D9D9D9 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">-50%</FONT></TD>
    <TD STYLE="border-bottom: #D9D9D9 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">-40%</FONT></TD>
    <TD STYLE="border-bottom: #D9D9D9 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">$600</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #D9D9D9 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">-60%</FONT></TD>
    <TD STYLE="border-bottom: #D9D9D9 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">-50%</FONT></TD>
    <TD STYLE="border-bottom: #D9D9D9 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">$500</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #D9D9D9 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">-70%</FONT></TD>
    <TD STYLE="border-bottom: #D9D9D9 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">-60%</FONT></TD>
    <TD STYLE="border-bottom: #D9D9D9 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">$400</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #D9D9D9 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">-80%</FONT></TD>
    <TD STYLE="border-bottom: #D9D9D9 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">-70%</FONT></TD>
    <TD STYLE="border-bottom: #D9D9D9 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">$300</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #D9D9D9 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">-90%</FONT></TD>
    <TD STYLE="border-bottom: #D9D9D9 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">-80%</FONT></TD>
    <TD STYLE="border-bottom: #D9D9D9 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">$200</FONT></TD></TR>
  <TR>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">-100%</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">-90%</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">$100</FONT></TD></TR>
  </TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<!-- Field: Page; Sequence: 5 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Buffered Accelerated Return Equity Securities &nbsp;<!-- Field: Sequence; Type: Arabic; Name: PageNo -->4<!-- Field: /Sequence --></FONT></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 14pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">Examples</P>

<P STYLE="font: 14pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 127.45pt">The following examples illustrate how the Redemption Amount
is calculated.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 127.45pt">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 127.45pt"><B>1. The Underlying increases by 20% from the Initial
Level to the Final Level.</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 127.45pt">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 127.45pt"><B>Final Level: 120% of Initial Level</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 127.45pt">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 127.45pt">Because the Final Level is equal to or greater than the
Initial Level, the Redemption Amount is determined as follows:</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 127.45pt">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 75%; font: 10pt Arial, Helvetica, Sans-Serif; border-collapse: collapse; margin-left: 127.45pt">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 25%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Security Performance Factor</FONT></TD>
    <TD STYLE="padding-right: 2pt; width: 75%; padding-left: 0.25in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">= Upside Participation Rate &times; Underlying Return<BR>
= 125% &times; 20%<BR>
= 25%</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Redemption Amount</FONT></TD>
    <TD STYLE="padding-right: 2pt; padding-left: 0.25in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">= $1,000 &times; (1 + Security Performance Factor)<BR>
= $1,000 &times; 1.25<BR>
= $1,250</FONT></TD></TR>
  </TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>
<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 127.45pt">Because the Final Level is equal to or greater than the
Initial Level, at maturity you would receive a Redemption Amount based on a Security Performance Factor equal to the Underlying Return
times the Upside Participation Rate.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 127.45pt">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 127.45pt"><B>2. The Underlying decreases by 5% from the Initial Level
to the Final Level.</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 127.45pt">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 127.45pt"><B>Final Level: 95% of Initial Level</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 127.45pt">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 127.45pt">Because the Final Level is less than the Initial Level
but equal to or greater than the Buffer Level, the Redemption Amount is determined as follows:</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 127.45pt">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 75%; font: 10pt Arial, Helvetica, Sans-Serif; border-collapse: collapse; margin-left: 127.45pt">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 25%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Security Performance Factor</FONT></TD>
    <TD STYLE="padding-right: 2pt; width: 75%; padding-left: 0.25in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">= 0%</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Redemption Amount</FONT></TD>
    <TD STYLE="padding-right: 2pt; padding-left: 0.25in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">= $1,000 &times; (1 + Security Performance Factor)<BR>
= $1,000 &times; 1<BR>
= $1,000</FONT></TD></TR>
  </TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>
<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 127.45pt">Because the Final Level is less than the Initial Level
but equal to or greater than the Buffer Level, at maturity you would receive a Redemption Amount equal to $1,000 per $1,000 principal
amount of securities.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 127.45pt">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 127.45pt"><B>3. The Underlying decreases by 60% from the Initial
Level to the Final Level.</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 127.45pt">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 127.45pt"><B>Final Level: 40% of Initial Level</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 127.45pt">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 127.45pt">Because the Final Level is less than the Buffer Level,
the Redemption Amount is determined as follows:</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 127.45pt">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 75%; font: 10pt Arial, Helvetica, Sans-Serif; border-collapse: collapse; margin-left: 127.45pt">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 25%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Security Performance Factor</FONT></TD>
    <TD STYLE="padding-left: 0.25in; width: 75%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">= Underlying Return + Buffer Amount<BR>
= -60% + 10%<BR>
= -50%</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Redemption Amount</FONT></TD>
    <TD STYLE="padding-left: 0.25in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">= $1,000 &times; (1 + Security Performance Factor)<BR>
= $1,000 &times; 0.50<BR>
= $500</FONT></TD></TR>
  </TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>
<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 127.45pt">Because the Final Level is less than the Buffer Level,
you will be exposed to any depreciation in the Underlying from the Initial Level to the Final Level beyond the Buffer Level.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 127.45pt">&nbsp;</P>


<!-- Field: Page; Sequence: 6 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Buffered Accelerated Return Equity Securities &nbsp;<!-- Field: Sequence; Type: Arabic; Name: PageNo -->5<!-- Field: /Sequence --></FONT></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 24pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">Selected Risk Considerations</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<!-- Field: Rule-Page --><DIV STYLE="margin-top: 3pt; margin-bottom: 3pt; width: 15%"><DIV STYLE="font-size: 1pt; border-top: Black 1pt solid">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 127.45pt">An investment in the securities involves significant risks.
This section describes material risks relating to an investment in the securities. These risks are explained in more detail in the &ldquo;Risk
Factors&rdquo; section of any accompanying product supplement.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 127.45pt">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.5in"><B><I>Risks Relating to the Securities Generally</I></B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 127.45pt"><B>YOUR INVESTMENT IN THE SECURITIES MAY RESULT IN A LOSS</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 127.45pt">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 127.45pt">If the Final Level is less than the Buffer Level, you will
lose 1% of your principal for each 1% decline from the Initial Level to the Final Level beyond the Buffer Level. You could lose up to
$900 per $1,000 principal amount of securities. Any payment on the securities is subject to our ability to pay our obligations as they
become due.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 127.45pt">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 127.45pt"><B>THE SECURITIES ARE SUBJECT TO THE CREDIT RISK OF CREDIT
SUISSE</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 127.45pt">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 127.45pt">Investors are dependent on our ability to pay all amounts
due on the securities and, therefore, if we were to default on our obligations, you may not receive any amounts owed to you under the
securities. In addition, any decline in our credit ratings, any adverse changes in the market&rsquo;s view of our creditworthiness or
any increase in our credit spreads is likely to adversely affect the value of the securities prior to maturity.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 127.45pt">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 127.45pt"><B>REGARDLESS OF THE AMOUNT OF ANY PAYMENT YOU RECEIVE
ON THE SECURITIES, YOUR ACTUAL YIELD MAY BE DIFFERENT IN REAL VALUE TERMS</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 127.45pt">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 127.45pt">Inflation may cause the real value of any payment you receive
on the securities to be less at maturity than it is at the time you invest. An investment in the securities also represents a forgone
opportunity to invest in an alternative asset that generates a higher real return. You should carefully consider whether an investment
that may result in a return that is lower than the return on alternative investments is appropriate for you.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 127.45pt">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 127.45pt"><B>THE SECURITIES DO NOT PAY INTEREST</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 127.45pt">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 127.45pt">We will not pay interest on the securities. You may receive
less at maturity than you could have earned on ordinary interest-bearing debt securities with similar maturities, including other of our
debt securities, since the Redemption Amount is based on the performance of the Underlying. Because the Redemption Amount may be less
than the amount originally invested in the securities, the return on the securities (the effective yield to maturity) may be negative.
Even if it is positive, the return payable on each security may not be enough to compensate you for any loss in value due to inflation
and other factors relating to the value of money over time.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 127.45pt">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 127.45pt"><B>THE PROBABILITY THAT THE FINAL LEVEL WILL BE LESS THAN
THE BUFFER LEVEL WILL DEPEND ON THE VOLATILITY OF THE UNDERLYING</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 127.45pt">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 127.45pt">&ldquo;Volatility&rdquo; refers to the frequency and magnitude
of changes in the level of the Underlying. The greater the expected volatility with respect to the Underlying on the Trade Date, the higher
the expectation as of the Trade Date that the Final Level could be less than the Buffer Level, indicating a higher expected risk of loss
on the securities. The terms of the securities are set, in part, based on expectations about the volatility of the Underlying as of the
Trade Date. The volatility of the Underlying can change significantly over the term of the securities. The level of the Underlying could
fall sharply, which could result in a significant loss of principal. You should be willing to accept the downside market risk of the Underlying
and the potential to lose a significant amount of your principal at maturity.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 127.45pt">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 127.45pt"><B>THE U.S. FEDERAL TAX CONSEQUENCES OF AN INVESTMENT IN
THE SECURITIES ARE UNCLEAR</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 127.45pt">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 127.45pt"><FONT STYLE="background-color: white">There is no direct
legal authority regarding the proper U.S. federal tax treatment of the securities, and we do not plan to request a ruling from the Internal
Revenue Service (the &ldquo;IRS&rdquo;). Consequently, significant aspects of the tax treatment of the securities are uncertain, and the
IRS or a court might not agree with the treatment of the securities as prepaid financial contracts that are treated as &ldquo;open transactions.&rdquo;
If the IRS were successful in asserting an alternative treatment of the securities, the tax consequences of the </FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 127.45pt">&nbsp;</P>


<!-- Field: Page; Sequence: 7 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Buffered Accelerated Return Equity Securities &nbsp;<!-- Field: Sequence; Type: Arabic; Name: PageNo -->6<!-- Field: /Sequence --></FONT></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 127.45pt"><FONT STYLE="background-color: white">ownership and disposition
of the securities, including the timing and character of income recognized by U.S. investors and the
withholding tax consequences to non-U.S. investors, might be materially and adversely affected. Even if the treatment of the securities
described herein is respected, there is a substantial risk that a security will be treated as a &ldquo;constructive ownership transaction,&rdquo;
with potentially adverse consequences described below under &ldquo;United States Federal Tax Considerations.&rdquo; Moreover, future legislation,
Treasury regulations or IRS guidance could adversely affect the U.S. federal tax treatment of the securities, possibly retroactively.</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 127.45pt">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.5in"><B><I>Risks Relating to the Underlying</I></B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 127.45pt"><FONT STYLE="background-color: white"><B>THERE ARE RISKS
ASSOCIATED WITH THE UNDERLYING</B></FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 127.45pt">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 127.45pt"><FONT STYLE="background-color: white">Although shares of
the Underlying are listed for trading on a national securities exchange and a number of exchange-traded funds generally have been traded
on various national securities exchanges for varying periods of time, there is no assurance that an active trading market will continue
for the shares of the Underlying or that there will be liquidity in the trading market. The Underlying is subject to management risk,
which is the risk that the Underlying&rsquo;s investment strategy, the implementation of which is subject to a number of constraints,
may not produce the intended results. Pursuant to the Underlying&rsquo;s investment strategy or otherwise, its investment advisor may
add, delete or substitute the assets held by the Underlying. Any of these actions could adversely affect the price of the shares of the
Underlying and consequently the value of the securities. For additional information on the Underlying, see &ldquo;The Underlying&rdquo;
herein.</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 127.45pt">&nbsp;</P>

<P STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 127.6pt">THE PERFORMANCE AND MARKET VALUE OF THE UNDERLYING,
PARTICULARLY DURING PERIODS OF MARKET VOLATILITY, MAY NOT CORRELATE TO THE PERFORMANCE OF ITS TRACKED INDEX</P>

<P STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 127.6pt">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 127.6pt"><FONT STYLE="font-weight: normal">The Underlying will generally
invest in all of the equity securities included in the index tracked by the Underlying (the &ldquo;Tracked Index&rdquo;), but may not
fully replicate the Tracked Index. There may be instances where the investment advisor for the Underlying may choose to overweight a stock
in the Tracked Index, purchase securities not included in the Tracked Index that the investment advisor believes are appropriate to substitute
for a security included in the Tracked Index or utilize various combinations of other available investment techniques. In addition, the
performance of the Underlying will reflect additional transaction costs and fees that are not included in the calculation of the Tracked
Index. Finally, because the shares of the Underlying are traded on a national securities exchange and are subject to market supply and
investor demand, the market value of one share of the Underlying may differ from the net asset value per share of the Underlying.</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 127.6pt">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 127.6pt"><FONT STYLE="font-weight: normal">During periods of market
volatility, securities held by the Underlying may be unavailable in the secondary market, market participants may be unable to calculate
accurately the net asset value per share of the Underlying and the liquidity of the Underlying may be adversely affected. This kind of
market volatility may also disrupt the ability of market participants to create and redeem shares in the Underlying. Further, market volatility
may adversely affect, sometimes materially, the prices at which market participants are willing to buy and sell shares of the Underlying.
As a result, under these circumstances, the market value of shares of the Underlying may vary substantially from the net asset value per
share of the Underlying. For these reasons, the performance of the Underlying may not correlate with the performance of the Tracked Index.
For additional information about the Underlying, see &ldquo;The Underlying&rdquo; herein. </FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 127.6pt">&nbsp;</P>

<P STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 127.6pt">THE SECURITIES ARE LINKED TO THE iSHARES<SUP>&reg;</SUP>
CORE S&amp;P SMALL-CAP ETF AND ARE SUBJECT TO THE RISKS ASSOCIATED WITH SMALL CAPITALIZATION COMPANIES</P>

<P STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 127.6pt">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 127.6pt"><FONT STYLE="font-weight: normal">The iShares<SUP>&reg;</SUP>
Core S&amp;P Small-Cap ETF is composed of equity securities issued by companies with relatively small market capitalization. These equity
securities often have greater stock price volatility, lower trading volume and less liquidity than the equity securities of large-capitalization
companies, and are more vulnerable to adverse business and economic developments than those of large-capitalization companies. In addition,
small- capitalization companies are typically less established and less stable financially than large-capitalization companies. These
companies may depend on a small number of key personnel, making them more vulnerable to loss of personnel. Such companies tend to have
smaller revenues, less diverse product lines, smaller shares of their product or service markets, fewer financial resources and less competitive
strengths than large-capitalization companies and are more susceptible to adverse developments related to their products. Therefore, the
iShares<SUP>&reg;</SUP> Core S&amp;P Small-Cap ETF may be more volatile than it would be if it were composed of equity securities issued
by large-capitalization companies.</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 127.6pt">&nbsp;</P>


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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 127.6pt">NO OWNERSHIP RIGHTS RELATING TO THE UNDERLYING</P>

<P STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 127.6pt">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 127.6pt"><FONT STYLE="font-weight: normal">Your return on the securities
will not reflect the return you would realize if you actually owned the shares of the Underlying or the assets that comprise the Underlying.
The return on your investment is not the same as the total return based on the purchase of the shares of the Underlying or the assets
that comprise the Underlying.</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 127.6pt">&nbsp;</P>

<P STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 127.6pt">NO VOTING RIGHTS OR DIVIDEND PAYMENTS</P>

<P STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 127.6pt">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 127.6pt"><FONT STYLE="font-weight: normal">As a holder of the securities,
you will not have voting rights or rights to receive cash dividends or other distributions or other rights with respect to shares of the
Underlying or the assets that comprise the Underlying.</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 127.6pt">&nbsp;</P>

<P STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 127.6pt">ANTI-DILUTION PROTECTION IS LIMITED</P>

<P STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 127.6pt">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 127.6pt"><FONT STYLE="font-weight: normal">The calculation agent
will make anti-dilution adjustments for certain events affecting the Underlying. However, an adjustment will not be required in response
to all events that could affect the Underlying. If an event occurs that does not require the calculation agent to make an adjustment,
or if an adjustment is made but such adjustment does not fully reflect the economics of such event, the value of the securities may be
materially and adversely affected. See &ldquo;Description of the Securities&mdash;Adjustments&rdquo; in the relevant product supplement.</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 127.6pt">&nbsp;</P>

<P STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 127.6pt">GOVERNMENT REGULATORY ACTION, INCLUDING LEGISLATIVE
ACTS AND EXECUTIVE ORDERS, COULD RESULT IN MATERIAL CHANGES TO THE UNDERLYING AND COULD NEGATIVELY AFFECT YOUR RETURN ON THE SECURITIES</P>

<P STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 127.6pt">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 127.45pt">Government regulatory action, including legislative acts
and executive orders, could materially affect the Underlying. For example, in response to recent executive orders, stocks of companies
that are determined to be linked to the People&rsquo;s Republic of China military, intelligence and security apparatus may be delisted
from a U.S. exchange, removed as a component in indices or exchange traded funds, or transactions in, or holdings of, securities with
exposure to such stocks may otherwise become prohibited under U.S. law. If government regulatory action results in such consequences,
there may be a material and negative effect on the securities.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 127.45pt">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.5in"><B><I>Risks Relating to the Issuer</I></B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 127.45pt"><B>CREDIT SUISSE IS SUBJECT TO SWISS REGULATION</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 127.45pt">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 127.45pt">As a Swiss bank, Credit Suisse is subject to regulation
by governmental agencies, supervisory authorities and self-regulatory organizations in Switzerland. Such regulation is increasingly more
extensive and complex and subjects Credit Suisse to risks. For example, pursuant to Swiss banking laws, the Swiss Financial Market Supervisory
Authority (FINMA) may open resolution proceedings if there are justified concerns that Credit Suisse is over-indebted, has serious liquidity
problems or no longer fulfills capital adequacy requirements. FINMA has broad powers and discretion in the case of resolution proceedings,
which include the power to convert debt instruments and other liabilities of Credit Suisse into equity and/or cancel such liabilities
in whole or in part. If one or more of these measures were imposed, such measures may adversely affect the terms and market value of the
securities and/or the ability of Credit Suisse to make payments thereunder and you may not receive any amounts owed to you under the securities.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 127.45pt">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.5in"><B><I>Risks Relating to Conflicts of Interest</I></B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 127.45pt"><B>HEDGING AND TRADING ACTIVITY</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 127.45pt">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 127.45pt">We or any of our affiliates may carry out hedging activities
related to the securities, including in the Underlying or instruments related to the Underlying. We or our affiliates may also trade in
the Underlying or instruments related to the Underlying from time to time. Any of these hedging or trading activities on or prior to the
Trade Date and during the term of the securities could adversely affect our payment to you at maturity.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 127.45pt">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 127.45pt"><B>POTENTIAL CONFLICTS</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 127.45pt">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 127.45pt">We and our affiliates play a variety of roles in connection
with the issuance of the securities, including acting as calculation agent and as agent of the issuer for the offering of the securities,
hedging our obligations under the securities and determining their estimated value. In performing these duties, the economic</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 127.45pt">&nbsp;</P>


<!-- Field: Page; Sequence: 9 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Buffered Accelerated Return Equity Securities &nbsp;<!-- Field: Sequence; Type: Arabic; Name: PageNo -->8<!-- Field: /Sequence --></FONT></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 127.45pt">interests of us and our affiliates are potentially adverse
to your interests as an investor in the securities. Further, hedging activities may adversely affect any payment on or the value of the
securities. Any profit in connection with such hedging activities will be in addition to any other compensation that we and our affiliates
receive for the sale of the securities, which creates an additional incentive to sell the securities to you.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 127.45pt">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.5in"><B><I>Risks Relating to the Estimated Value and Secondary
Market Prices of the Securities</I></B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 127.45pt"><B>UNPREDICTABLE ECONOMIC AND MARKET FACTORS WILL AFFECT
THE VALUE OF THE SECURITIES</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 127.45pt">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 127.45pt">The payout on the securities can be replicated using a
combination of the components described in &ldquo;The estimated value of the securities on the Trade Date is less than the Price to Public.&rdquo;
Therefore, in addition to the level of the Underlying, the terms of the securities at issuance and the value of the securities prior to
maturity may be influenced by factors that impact the value of fixed income securities and options in general, such as:</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 127.45pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 2in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>the expected and actual volatility of the Underlying;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 2in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>the time to maturity of the securities;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 2in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>the dividend rate on the equity securities included in the Underlying;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 2in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>interest and yield rates in the market generally;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 2in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>investors&rsquo; expectations with respect to the rate of inflation;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 2in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>geopolitical conditions and economic, financial, political, regulatory, judicial or other events that affect the components included
in the Underlying or markets generally and which may affect the level of the Underlying; and</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 2in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>our creditworthiness, including actual or anticipated downgrades in our credit ratings.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 127.45pt">Some or all of these factors may influence the price that
you will receive if you choose to sell your securities prior to maturity. The impact of any of the factors set forth above may enhance
or offset some or all of any change resulting from another factor or factors.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 127.45pt">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 127.45pt"><B>THE ESTIMATED VALUE OF THE SECURITIES ON THE TRADE DATE
IS LESS THAN THE PRICE TO PUBLIC</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 127.45pt">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 127.45pt">The initial estimated value of your securities on the Trade
Date (as determined by reference to our pricing models and our internal funding rate) is less than the original Price to Public. The Price
to Public of the securities includes any discounts or commissions as well as transaction costs such as expenses incurred to create, document
and market the securities and the cost of hedging our risks as issuer of the securities through one or more of our affiliates (which includes
a projected profit). These costs will be effectively borne by you as an investor in the securities. These amounts will be retained by
Credit Suisse or our affiliates in connection with our structuring and offering of the securities (except to the extent discounts or commissions
are reallowed to other broker-dealers or any costs are paid to third parties).</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 127.45pt">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 127.45pt">On the Trade Date, we value the components of the securities
in accordance with our pricing models. These include a fixed income component valued using our internal funding rate, and individual option
components valued using proprietary pricing models dependent on inputs such as volatility, correlation, dividend rates, interest rates
and other factors, including assumptions about future market events and/or environments. These inputs may be market-observable or may
be based on assumptions made by us in our discretionary judgment. As such, the payout on the securities can be replicated using a combination
of these components and the value of these components, as determined by us using our pricing models, will impact the terms of the securities
at issuance. Our option valuation models are proprietary. Our pricing models take into account factors such as interest rates, volatility
and time to maturity of the securities, and they rely in part on certain assumptions about future events, which may prove to be incorrect.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 127.45pt">&nbsp;</P>


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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 127.45pt">Because Credit Suisse&rsquo;s pricing models may differ
from other issuers&rsquo; valuation models, and because funding rates taken into account by other issuers may vary materially from the
rates used by Credit Suisse (even among issuers with similar creditworthiness), our estimated value at any time may not be comparable
to estimated values of similar securities of other issuers.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 127.45pt">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 127.45pt"><B>EFFECT OF INTEREST RATE USED IN STRUCTURING THE SECURITIES</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 127.45pt">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 127.45pt">The internal funding rate we use in structuring notes such
as these securities is typically lower than the interest rate that is reflected in the yield on our conventional debt securities of similar
maturity in the secondary market (our &ldquo;secondary market credit spreads&rdquo;). If on the Trade Date our internal funding rate is
lower than our secondary market credit spreads, we expect that the economic terms of the securities will generally be less favorable to
you than they would have been if our secondary market credit spread had been used in structuring the securities. We will also use our
internal funding rate to determine the price of the securities if we post a bid to repurchase your securities in secondary market transactions.
See &ldquo;&mdash;Secondary Market Prices&rdquo; below.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 127.45pt">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 127.45pt"><B>SECONDARY MARKET PRICES</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 127.45pt">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 127.45pt">If Credit Suisse (or an affiliate) bids for your securities
in secondary market transactions, which we are not obligated to do, the secondary market price (and the value used for account statements
or otherwise) may be higher or lower than the Price to Public and the estimated value of the securities on the Trade Date. The estimated
value of the securities on the cover of this pricing supplement does not represent a minimum price at which we would be willing to buy
the securities in the secondary market (if any exists) at any time. The secondary market price of your securities at any time cannot be
predicted and will reflect the then-current estimated value determined by reference to our pricing models, the related inputs and other
factors, including our internal funding rate, customary bid and ask spreads and other transaction costs, changes in market conditions
and deterioration or improvement in our creditworthiness. In circumstances where our internal funding rate is higher than our secondary
market credit spreads, our secondary market bid for your securities could be less favorable than what other dealers might bid because,
assuming all else equal, we use the higher internal funding rate to price the securities and other dealers might use the lower secondary
market credit spread to price them. Furthermore, assuming no change in market conditions from the Trade Date, the secondary market price
of your securities will be lower than the Price to Public because it will not include any discounts or commissions and hedging and other
transaction costs. If you sell your securities to a dealer in a secondary market transaction, the dealer may impose an additional discount
or commission, and as a result the price you receive on your securities may be lower than the price at which we may repurchase the securities
from such dealer.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 127.45pt">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 127.45pt">We (or an affiliate) may initially post a bid to repurchase
the securities from you at a price that will exceed the then-current estimated value of the securities. That higher price reflects our
projected profit and costs, which may include discounts and commissions that were included in the Price to Public, and that higher price
may also be initially used for account statements or otherwise. We (or our affiliate) may offer to pay this higher price, for your benefit,
but the amount of any excess over the then-current estimated value will be temporary and is expected to decline over a period of approximately
three months.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 127.45pt">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 127.45pt">The securities are not designed to be short-term trading
instruments and any sale prior to maturity could result in a substantial loss to you. You should be willing and able to hold your securities
to maturity.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 127.45pt">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 127.45pt"><B>LACK OF LIQUIDITY</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 127.45pt">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 127.45pt">The securities will not be listed on any securities exchange.
Credit Suisse (or its affiliates) intends to offer to purchase the securities in the secondary market but is not required to do so. Even
if there is a secondary market, it may not provide enough liquidity to allow you to trade or sell the securities when you wish to do so.
Because other dealers are not likely to make a secondary market for the securities, the price at which you may be able to trade your securities
is likely to depend on the price, if any, at which Credit Suisse (or its affiliates) is willing to buy the securities. If you have to
sell your securities prior to maturity, you may not be able to do so or you may have to sell them at a substantial loss.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 127.45pt">&nbsp;</P>


<!-- Field: Page; Sequence: 11 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Buffered Accelerated Return Equity Securities &nbsp;<!-- Field: Sequence; Type: Arabic; Name: PageNo -->10<!-- Field: /Sequence --></FONT></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 24pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">Supplemental Use of Proceeds and Hedging</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<!-- Field: Rule-Page --><DIV STYLE="margin-top: 3pt; margin-bottom: 3pt; width: 15%"><DIV STYLE="font-size: 1pt; border-top: Black 1pt solid">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 127.45pt">We intend to use the proceeds of this offering for our
general corporate purposes, which may include the refinancing of existing debt outside Switzerland. Some or all of the proceeds we receive
from the sale of the securities may be used in connection with hedging our obligations under the securities through one or more of our
affiliates. Such hedging or trading activities on or prior to the Trade Date and during the term of the securities (including on any calculation
date, as defined in any accompanying product supplement) could adversely affect the value of the Underlying and, as a result, could decrease
the amount you may receive on the securities at maturity. For additional information, see &ldquo;Supplemental Use of Proceeds and Hedging&rdquo;
in any accompanying product supplement.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 127.45pt">&nbsp;</P>


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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="font: 24pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">The Underlying</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<!-- Field: Rule-Page --><DIV STYLE="margin-top: 3pt; margin-bottom: 3pt; width: 15%"><DIV STYLE="font-size: 1pt; border-top: Black 1pt solid">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 127.45pt"><B>The iShares<SUP>&reg;</SUP> Core S&amp;P Small-Cap ETF</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 127.45pt">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 127.45pt">We have derived all information contained herein regarding
the iShares<SUP>&reg;</SUP> Core S&amp;P Small-Cap ETF from publicly available information. Such information reflects the policies of,
and is subject to change by, BlackRock Fund Advisors, which maintains and manages the iShares<SUP>&reg;</SUP> Core S&amp;P Small-Cap ETF
and acts as investment advisor to the iShares<SUP>&reg;</SUP> Core S&amp;P Small-Cap ETF. We have not conducted any independent review
or due diligence of any publicly available information with respect to the iShares<SUP>&reg;</SUP> Core S&amp;P Small-Cap ETF.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 127.45pt">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 127.45pt">The iShares<SUP>&reg;</SUP> Core S&amp;P Small-Cap ETF
is an exchange-traded fund that seeks to track the investment results, before fees and expenses, of an index composed of small-capitalization
U.S. equities, which is currently the S&amp;P SmallCap 600<SUP>&reg;</SUP> Index. The S&amp;P SmallCap 600<SUP>&reg;</SUP> Index consists
of stocks of 600 companies selected to provide a performance benchmark for the small market capitalization segment of the U.S. equity
markets.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 127.45pt">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 127.45pt">The iShares<SUP>&reg;</SUP> Trust is a registered investment
company that consists of numerous separate investment portfolios, including the iShares<SUP>&reg;</SUP> Core S&amp;P Small-Cap ETF. Information
filed by the iShares<SUP>&reg;</SUP> Trust with the SEC under the Securities Act and the Investment Company Act can be found by reference
to its SEC file numbers: 333<FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">-</FONT>92935 and 811<FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">-</FONT>09729.
Shares of the Core S&amp;P Small-Cap ETF are listed on the NYSE Arca under ticker symbol &ldquo;IJR.&rdquo; Information from outside sources
is not incorporated by reference in, and should not be considered part of, this pricing supplement, the accompanying product supplement,
the prospectus supplement and the prospectus.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 127.45pt">&nbsp;</P>


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    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Buffered Accelerated Return Equity Securities &nbsp;<!-- Field: Sequence; Type: Arabic; Name: PageNo -->12<!-- Field: /Sequence --></FONT></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 24pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">Historical Information</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<!-- Field: Rule-Page --><DIV STYLE="margin-top: 3pt; margin-bottom: 3pt; width: 15%"><DIV STYLE="font-size: 1pt; border-top: Black 1pt solid">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 127.45pt">The following graph sets forth the historical performance
of the Underlying based on the closing level of the Underlying from January 2, 2018 through January 31, 2023. We obtained the historical
information below from Bloomberg, without independent verification. The closing levels reported by Bloomberg may not be the same as the
closing levels derived from the applicable Reuters page.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 127.45pt">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 127.45pt">You should not take the historical levels of the Underlying
as an indication of future performance of the Underlying or the securities. Any historical trend in the level of the Underlying during
any period set forth below is not an indication that the level of the Underlying is more or less likely to increase or decrease at any
time over the term of the securities. The graph below may have been adjusted to reflect certain corporate actions such as stock splits
and reverse stock splits.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 127.45pt">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 127.45pt">For additional information on the Underlying, see &ldquo;The
Underlying&rdquo; herein.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 127.45pt">&nbsp;</P>

<P STYLE="border-top: Black 1pt solid; font: bold 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 127.45pt">The closing level of the iShares<SUP>&reg;</SUP> Core
S&amp;P Small-Cap ETF on January 31, 2023 was $103.64.</P>

<P STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 127.45pt">&nbsp;</P>

<P STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.5in; text-align: center; text-indent: 1in"><IMG SRC="image_003.jpg" ALT="" STYLE="height: 311px; width: 582px"></P>

<P STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.5in; text-align: center; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><BR>
<BR>
</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>


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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 24pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">United States Federal Tax Considerations</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<!-- Field: Rule-Page --><DIV STYLE="margin-top: 3pt; margin-bottom: 3pt; width: 15%"><DIV STYLE="font-size: 1pt; border-top: Black 1pt solid">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 127.45pt">This discussion supplements and, to the extent inconsistent
therewith, supersedes the discussion in the accompanying product supplement under &ldquo;United States Federal Tax Considerations.&rdquo;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 127.45pt">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 127.45pt">There are no statutory, judicial or administrative authorities
that address the U.S. federal income tax treatment of the securities or instruments that are similar to the securities. In the opinion
of our counsel, Davis Polk &amp; Wardwell LLP, which is based on current market conditions, a security should be treated as a prepaid
financial contract that is an &ldquo;open transaction&rdquo; for U.S. federal income tax purposes. However, there is uncertainty regarding
this treatment.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 127.45pt">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 127.45pt">Assuming this treatment of the securities is respected
and subject to the discussion in &ldquo;United States Federal Tax Considerations&rdquo; in the accompanying product supplement, the following
U.S. federal income tax consequences should result:</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 127.45pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 145.45pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>You should not recognize taxable income over the term of the securities prior to maturity, other than pursuant to a sale or other
disposition.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 145.45pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>Upon a sale or other disposition (including retirement) of a security, you should recognize gain or loss equal to the difference between
the amount realized and your tax basis in the security. Subject to the discussion below concerning the potential application of the &ldquo;constructive
ownership&rdquo; rules under Section 1260 of the Internal Revenue Code of 1986, as amended (the &ldquo;Code&rdquo;), such gain or loss
should be long-term capital gain or loss if you held the security for more than one year.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 127.45pt">Even if the treatment of the securities as described herein
is respected, there is a substantial risk that your purchase of a security will be treated as entry into a &ldquo;constructive ownership
transaction,&rdquo; within the meaning of Section 1260 of the Code. In that case, all or a portion of any long-term capital gain you would
otherwise recognize in respect of your securities would be recharacterized as ordinary income to the extent such gain exceeded the &ldquo;net
underlying long-term capital gain.&rdquo; Any long-term capital gain recharacterized as ordinary income under Section 1260 would be treated
as accruing at a constant rate over the period you held your securities, and you would be subject to an interest charge in respect of
the deemed tax liability on the income treated as accruing in prior tax years. Due to the lack of governing authority under Section 1260,
our counsel is not able to opine as to whether or how Section 1260 applies to the securities. You should read the section entitled &ldquo;United
States Federal Tax Considerations&mdash;Tax Consequences to U.S. Holders&mdash;Securities Treated as Prepaid Financial Contracts that
are Open Transactions&mdash;Possible Application of Section 1260 of the Code&rdquo; in the accompanying product supplement for additional
information and consult your tax advisor regarding the potential application of the &ldquo;constructive ownership&rdquo; rule.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 127.45pt">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 127.45pt">We do not plan to request a ruling from the IRS regarding
the treatment of the securities, and the IRS or a court might not agree with the treatment described herein. In particular, the IRS could
treat the securities as contingent payment debt instruments, in which case the tax consequences of ownership and disposition of the securities,
including the timing and character of income recognized, could be materially and adversely affected. Moreover, the U.S. Treasury Department
and the IRS have requested comments on various issues regarding the U.S. federal income tax treatment of &ldquo;prepaid forward contracts&rdquo;
and similar financial instruments and have indicated that such transactions may be the subject of future regulations or other guidance.
In addition, members of Congress have proposed legislative changes to the tax treatment of derivative contracts. Any legislation, Treasury
regulations or other guidance promulgated after consideration of these issues could materially and adversely affect the tax consequences
of an investment in the securities, possibly with retroactive effect. You should consult your tax advisor regarding possible alternative
tax treatments of the securities and potential changes in applicable law.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 127.45pt">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 127.45pt"><B>Non-U.S. Holders</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 127.45pt">&nbsp;</P>


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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 127.45pt">Subject to the discussions in the next paragraph and in
&ldquo;United States Federal Tax Considerations&mdash;Tax Consequences to Non-U.S. Holders&rdquo; and &ldquo;United States Federal Tax
Considerations&mdash;FATCA&rdquo; in the accompanying product supplement, if you are a Non-U.S. Holder (as defined in the accompanying
product supplement) of the securities, you generally should not be subject to U.S. federal withholding or income tax in respect of any
amount paid to you with respect to the securities, provided that (i) income in respect of the securities is not effectively connected
with your conduct of a trade or business in the United States, and (ii) you comply with the applicable certification requirements.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 127.45pt">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 127.45pt">As discussed under &ldquo;United States Federal Tax Considerations&mdash;Tax
Consequences to Non-U.S. Holders&mdash;Dividend Equivalents under Section 871(m) of the Code&rdquo; in the accompanying product supplement,
Section 871(m) of the Internal Revenue Code generally imposes a 30% withholding tax on &ldquo;dividend equivalents&rdquo; paid or deemed
paid to Non-U.S. Holders with respect to certain financial instruments linked to U.S. equities or indices that include U.S. equities.
Treasury regulations under Section 871(m), as modified by an IRS notice, exclude from their scope financial instruments issued prior to
January 1, 2025 that do not have a &ldquo;delta&rdquo; of one with respect to any U.S. equity. Based on the terms of the securities and
representations provided by us, our counsel is of the opinion that the securities should not be treated as transactions that have a &ldquo;delta&rdquo;
of one within the meaning of the regulations with respect to any U.S. equity and, therefore, should not be subject to withholding tax
under Section 871(m).</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 127.45pt">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 127.45pt">A determination that the securities are not subject to
Section 871(m) is not binding on the IRS, and the IRS may disagree with this determination. Moreover, Section 871(m) is complex and its
application may depend on your particular circumstances, including your other transactions. You should consult your tax advisor regarding
the potential application of Section 871(m) to the securities.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 127.45pt">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 127.45pt">If withholding tax applies to the securities, we will not
be required to pay any additional amounts with respect to amounts withheld.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 127.45pt">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 127.45pt"><B>You should read the section entitled &ldquo;United States
Federal Tax Considerations&rdquo; in the accompanying product supplement. The preceding discussion, when read in combination with that
section, constitutes the full opinion of Davis Polk &amp; Wardwell LLP regarding the material U.S. federal tax consequences of owning
and disposing of the securities.</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 127.45pt">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 127.45pt"><B>You should also consult your tax advisor regarding all
aspects of the U.S. federal income and estate tax consequences of an investment in the securities and any tax consequences arising under
the laws of any state, local or non-U.S. taxing jurisdiction.</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 127.45pt">&nbsp;</P>


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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="font: 24pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">Supplemental Plan of Distribution (Conflicts of Interest)</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<!-- Field: Rule-Page --><DIV STYLE="margin-top: 3pt; margin-bottom: 3pt; width: 15%"><DIV STYLE="font-size: 1pt; border-top: Black 1pt solid">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 127.45pt">Under the terms and subject to the conditions contained
in a distribution agreement dated May 7, 2007, as amended, which we refer to as the distribution agreement, we have agreed to sell the
securities to CSSU.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 127.45pt">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 127.45pt">The distribution agreement provides that CSSU is obligated
to purchase all of the securities if any are purchased.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 127.45pt">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 127.45pt">CSSU will offer the securities at the offering price set
forth on the cover page of this pricing supplement and will receive discounts and commissions of $7.50 per $1,000 principal amount of
securities. CSSU may re-allow some or all of the discount on the principal amount per security on sales of such securities by other brokers
or dealers. CSSU or another broker or dealer will forgo some or all discounts and commissions with respect to the sales of securities
into certain fiduciary accounts. If all of the securities are not sold at the initial offering price, CSSU may change the public offering
price and other selling terms.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 127.45pt">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 127.45pt">An affiliate of Credit Suisse has paid or may pay in the
future a fixed amount to broker-dealers in connection with the costs of implementing systems to support these securities.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 127.45pt">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 127.45pt">We expect to deliver the securities against payment for
the securities on the Settlement Date indicated herein, which may be a date that is greater than two business days following the Trade
Date. Under Rule 15c6-1 of the Securities Exchange Act of 1934, as amended, trades in the secondary market generally are required to settle
in two business days, unless the parties to a trade expressly agree otherwise. Accordingly, if the Settlement Date is more than two business
days after the Trade Date, purchasers who wish to transact in the securities more than two business days prior to the Settlement Date
will be required to specify alternative settlement arrangements to prevent a failed settlement.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 127.45pt">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 127.45pt">The agent for this offering, CSSU, is our affiliate. In
accordance with FINRA Rule 5121, CSSU may not make sales in this offering to any of its discretionary accounts without the prior written
approval of the customer. A portion of the net proceeds from the sale of the securities will be used by CSSU or one of its affiliates
in connection with hedging our obligations under the securities.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 127.45pt">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 127.45pt">For further information, please refer to &ldquo;Underwriting
(Conflicts of Interest)&rdquo; in any accompanying product supplement.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 127.45pt">&nbsp;</P>


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<P STYLE="font: 24pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">Validity of the Securities</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<!-- Field: Rule-Page --><DIV STYLE="margin-top: 3pt; margin-bottom: 3pt; width: 15%"><DIV STYLE="font-size: 1pt; border-top: Black 1pt solid">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 127.45pt">In the opinion of Davis Polk &amp; Wardwell LLP, as United
States counsel to Credit Suisse, when the securities offered by this pricing supplement have been executed and issued by Credit Suisse
and authenticated by the trustee pursuant to the indenture, and delivered against payment therefor, such securities will be valid and
binding obligations of Credit Suisse, enforceable against Credit Suisse in accordance with their terms, subject to (i) applicable bankruptcy,
insolvency and similar laws affecting creditors&rsquo; rights generally, (ii) concepts of reasonableness and equitable principles of general
applicability (including, without limitation, concepts of good faith, fair dealing and the lack of bad faith) and (iii) possible judicial
or regulatory actions giving effect to governmental actions or foreign laws affecting creditors&rsquo; rights, provided that such counsel
expresses no opinion as to the effect of fraudulent conveyance, fraudulent transfer or similar provision of applicable law on the conclusions
expressed above. This opinion is given as of the date of this pricing supplement and is limited to the laws of the State of New York,
except that such counsel expresses no opinion as to the application of state securities or Blue Sky laws to the securities. Insofar as
this opinion involves matters governed by Swiss law, Davis Polk &amp; Wardwell LLP has relied, without independent inquiry or investigation,
on the opinion of Homburger AG, dated February 1, 2023 and filed by Credit Suisse as an exhibit to a Current Report on Form 6-K on February
1, 2023. The opinion of Davis Polk &amp; Wardwell LLP is subject to the same assumptions, qualifications and limitations with respect
to such matters as are contained in the opinion of Homburger AG. In addition, the opinion of Davis Polk &amp; Wardwell LLP is subject
to customary assumptions about the establishment of the terms of the securities, the trustee&rsquo;s authorization, execution and delivery
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 stated in the opinion of Davis Polk &amp; Wardwell LLP dated February 1, 2023, which was filed by Credit Suisse
as an exhibit to a Current Report on Form 6-K on February 1, 2023. Davis Polk &amp; Wardwell LLP expresses no opinion as to waivers of
objections to venue, the subject matter or personal jurisdiction of a United States federal court or the effectiveness of service of process
other than in accordance with applicable law. In addition, such counsel notes that the enforceability in the United States of Section
10.08(c) of the indenture is subject to the limitations set forth in the United States Foreign Sovereign Immunities Act of 1976.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 127.45pt">&nbsp;</P>


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    <TD>&nbsp;</TD></TR>
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    <TD>
    <P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><B>CREDIT SUISSE SECURITIES (USA) LLC</B>&nbsp;</P>
    <P STYLE="font: bold 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">credit-suisse.com&nbsp;</P></TD></TR>
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    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">Copyright &copy; 2023 Credit Suisse Group AG and/or its affiliates. All rights reserved.&nbsp;</FONT></TD></TR>
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<DOCUMENT>
<TYPE>EX-FILING FEES
<SEQUENCE>2
<FILENAME>dp188326_exfilingfees.htm
<DESCRIPTION>EXHIBIT 107.1
<TEXT>
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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right; text-indent: 0in"><FONT STYLE="font-size: 10pt"><B>Exhibit
107.1</B></FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right; text-indent: 0in"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in"><FONT STYLE="font-size: 10pt">The pricing supplement
to which this Exhibit is attached is a final prospectus for the related offering. The maximum aggregate offering price of that offering
is $1,082,000.</FONT></P>

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end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
