CREDIT SUISSE AG

Credit Suisse AG is a Swiss bank headquartered in Zurich and, since March 2023, a wholly owned subsidiary of UBS Group AG following an emergency takeover arranged by Swiss authorities; it remains supervised by FINMA and participates in the Swiss depositor protection scheme (esisuisse) that covers eligible deposits up to CHF 100,000 per client per bank. Historically active in wealth management, asset management, investment banking, and the Swiss domestic bank, the group suffered significant losses and client outflows in 2021–2023 linked to events including Greensill-related supply chain finance funds and the Archegos collapse; during the merger, FINMA ordered a full write-down of approximately CHF 16 billion of Additional Tier 1 instruments while equity holders received UBS shares based on the agreed exchange ratio. Under UBS ownership through 2024, Credit Suisse AG continues to exist as a key legal entity, primarily to maintain certain client accounts and to service or wind down legacy positions; UBS has been integrating core activities into its own divisions and running non-core assets in a dedicated wind-down unit, with client migrations, platform changes, and product rationalization proceeding in phases and varying by jurisdiction. Credit Suisse AG remains the issuer of various outstanding notes and derivatives and operates branches and subsidiaries in multiple countries, subject to local licensing and cross-border rules; onboarding, product availability, and relationship coverage are determined by UBS policies during the integration. For Swiss retail and corporate clients, day-to-day banking services such as payments, cards, mortgages, and lending continue under the UBS umbrella with branding and documentation changing as migrations complete; for international private banking and institutional clients, account terms, booking centers, and reporting may be updated as systems are consolidated. Prospective and existing clients should verify the current legal counterparty, applicable investor protections, and any changes to account numbers, custody arrangements, and fee schedules communicated during the transition, and note that standalone public financial reporting for Credit Suisse AG has been limited as results are consolidated into UBS.