Published on 8/30/2006 in the Prospect News Convertibles Daily.
New Issue: Credit Suisse prices $1.538 million 8.75% reverse convertibles linked to FedEx
By Angela McDaniels
Seattle, Aug. 30 - Credit Suisse (USA) Inc. priced a $1.538 million issue of 8.75% reverse convertible securities due Aug. 31, 2007 linked to FedEx Corp. common stock, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par unless FedEx stock falls below the knock-in price during the life of the notes and finishes below its initial price on Aug. 27, 2007, the valuation date, in which case the payout will be a number of FedEx shares equal to $1,000 divided by the initial share price.
| Issuer: | Credit Suisse (USA) Inc.
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| Issue: | Reverse convertible securities
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| Amount: | $1.538 million
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| Underlying stock: | FedEx Corp.
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| Maturity: | Aug. 31, 2007
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| Coupon: | 8.75%, payable quarterly
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| Price: | Par
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| Payout at maturity: | Par unless FedEx stock falls below knock-in price of $80.72 during the life of the notes and finishes below its initial value, in which case payout will be 9.910803 shares of FedEx stock
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| Initial share level: | $100.90
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| Knock-in price: | $80.72, 80% of initial price
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| Pricing date: | Aug. 28
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| Settlement date: | Aug. 31
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| Underwriter: | Credit Suisse Securities (USA) LLC
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