What I assumed originally was a 925, under magnification says, I think, "STS," and underneath that, it looks like "Karls (Kaits? Kaifs? Kads?)." It's an elaborate bracelet, but it doesn't seem to be machine made, there's a bit of a mismatch in the grilling.
I may be overthinking it, but as I was searching I even wondered if it was another language, I'm fairly sure, from other angles, that it's not SVS or SYS, but I could be wrong, but if I'm looking at the STS upsidedown, it could be the Scandinavian SÅS, and the s is unusual in Russian, but Karls could be Капѕ, Калѕ, Кагтѕ, or Кадѕ, or maybe καπς in Greek, but I'm probably going too far in the wrong direction.