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Credit Suisse to price 16% reverse convertibles linked to Apple
By Jennifer Chiou
New York, Nov. 6 - Credit Suisse, Nassau branch plans to price 16% annualized reverse convertible securities due Feb. 26, 2008 linked to Apple Inc. stock, according to a 424B2 filing with the Securities and Exchange Commission.
Interest will be payable monthly.
Payout at maturity will be par unless Apple stock falls below the knock-in price - 80% of the initial value - during the life of the notes and finishes below its initial price, in which case the payout will be a number of Apple shares equal to $1,000 divided by the initial share price.
The notes will price and settle in November.
Credit Suisse Securities (USA) LLC is the agent.
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