Published on 4/26/2007 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $1.001 million 11.5% reverse convertibles linked to NYSE Euronext
By E. Janene Geiss
Philadelphia, April 26 - Credit Suisse, Nassau branch, priced $1.001 million of 11.5% reverse convertible securities due Oct. 30, 2007 linked to NYSE Euronext, Inc. stock, according to a 424B2 filing with the Securities and Exchange Commission.
Payout at maturity will be par unless NYSE Euronext stock falls below the knock-in price of $67.56 - 80% of the initial value - during the life of the notes and finishes below its initial price of $84.45, in which case the payout will be a number of NYSE Euronext shares equal to $1,000 divided by the initial share price.
Issuer: | Credit Suisse, Nassau branch
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Issue: | Reverse convertible securities
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Underlying stock: | NYSE Euronext, Inc.
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Amount: | $1.001 million
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Maturity: | Oct. 30, 2007
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Coupon: | 11.5%, payable quarterly
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Price: | Par
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Payout at maturity: | Par unless NYSE Euronext stock falls below the knock-in price of $67.56 during the life the notes and finishes below its initial value, in which case payout will be a number of shares equal to $1,000 divided by the initial share price
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Initial price: | $84.45
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Knock-in price: | $67.56, 80% of $84.45
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Pricing date: | April 24
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Settlement date: | April 30
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Agent: | Credit Suisse Securities (USA) LLC
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Agent fee: | 2%
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