Credit Suisse to price 11.5% reverse convertibles linked to Owens-Illinois

By Susanna Moon

Chicago, March 17 - Credit Suisse, Nassau branch plans to price 11.5% annualized Z series reverse convertible securities due June 30, 2008 linked to the common stock of Owens-Illinois, Inc., according to a 424B2 filing with the Securities and Exchange Commission.

Interest will be payable monthly.

The payout at maturity will be par unless Owens-Illinois shares fall by more than 20% during the life of the notes and the final share price is less than the initial share price, in which case the payout will be a number of Owens-Illinois shares equal to par divided by the initial share price.

The notes are expected to price and settle in March.

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

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