Credit Suisse to price 18% reverse convertibles linked to Energy Conversion

By Angela McDaniels

Seattle, June 12 - Credit Suisse, Nassau branch plans to price reverse convertible securities due Dec. 31, 2007 linked to the common stock of Energy Conversion Devices, Inc., according to a 424B2 filing with the Securities and Exchange Commission.

The six-month notes will pay 9% for an annualized return of 18%. Interest will be payable monthly.

The payout at maturity will be par unless Energy Conversion stock closes below the knock-in level - 75% of the initial share price - during the life of the notes and finishes below the initial share price, in which case the payout will be a number of Energy Conversion shares equal to $1,000 divided by the initial share price.

The notes are expected to price and settle in June.

Credit Suisse Securities (USA) LLC will be the underwriter.

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