On 22 April 2021 Credit Suisse Group AG announced the placement of two series of Mandatory Convertible Notes (CHF 865,000,000 3.00 per cent. Series A Mandatory Convertible Notes due 2021 (Series A) and CHF 890,949,000 3.00 per cent. Series B Mandatory Convertible Notes due 2021 (Series B)), issued through a Guernsey finance vehicle and convertible into a total of 203 million shares of, and guaranteed by, Credit Suisse Group AG. The MCNs were priced on 23 April after close of trading and issued on 12 May.