By Susanna Moon
Chicago, July 28 - Credit Suisse, Nassau Branch priced $1.32 million of 18.5% annualized reverse convertible securities due Oct. 30, 2008 linked to the American Depositary Receipts of Petroleo Brasileiro SA, according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable monthly.
If Petrobas' shares fall below the knock-in price - 80% of the initial price - during the life of the notes and finish below their initial price, the payout at maturity will be a number of Petrobas shares equal to par divided by the initial price.
Otherwise, the payout will be par.
Credit Suisse Securities (USA) LLC is the underwriter.
Issuer: | Credit Suisse, Nassau Branch
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Issue: | Reverse convertible securities
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Underlying stock: | Petroleo Brasileiro SA (NYSE: PBR)
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Amount: | $1,317,000
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Maturity: | Oct. 30, 2008
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Coupon: | 18.5%, payable monthly
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Price: | Par
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Payout at maturity: | Par unless Petrobras' shares fall below the knock-in price during the life of the notes and finish below their initial price, in which case 18.8324 Petrobras shares
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Initial price: | $53.10
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Knock-in price: | $42.48, 80% of initial share price
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Pricing date: | June 25
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Settlement date: | June 30
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Underwriter: | Credit Suisse Securities (USA) LLC
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Fees: | 1.5%
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