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Credit Suisse to price 12% reverse convertibles linked to Apple
By Susanna Moon
Chicago, June 12 - Credit Suisse, Nassau branch plans to price 12% annualized reverse convertible securities due Sept. 30, 2008 linked to the common stock of Apple 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 Apple shares fall by more than 25% 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 Apple shares equal to par divided by the initial share price.
The notes are expected to price on June 25 and settle on June 30.
Credit Suisse Securities (USA) LLC will be the underwriter.
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