By Angela McDaniels
Tacoma, Wash., Jan. 19 - The underwriter for Credit Suisse, Nassau Branch's $30.77 million issue of 10% equity-linked notes due Jan. 22, 2011 linked to the common stock of Ford Motor Co. is Credit Suisse Securities (USA) LLC, according to a 424B2 filing with the Securities and Exchange Commission.
The company filed an FWP for the notes with the SEC on Jan. 14, but that filing did not disclose the name of the underwriter.
As previously reported, each note has a face amount of $11.679, which is equal to the initial strike price. The initial strike price was selected by the calculation agent and is less than the closing price of Ford stock on the pricing date, which was $11.76.
Interest is payable monthly.
If the final share price is less than 115% of the initial strike price, the payout at maturity will equal 89.957% of the final share price, subject to a minimum of $8.40 per note.
If the final share price is greater than or equal to 115% of the initial strike price and less than 134% of the initial strike price, the payout will be par.
Otherwise, the payout will be par plus 0.65% for every 1% that the final share price exceeds 134% of the initial strike price.
At its option, Credit Suisse can make the payout in cash or Ford stock.
| Issuer: | Credit Suisse, Nassau Branch
|
| Issue: | Equity-linked notes
|
| Underlying stock: | Ford Motor Co. (Symbol: F)
|
| Amount: | $30,774,165
|
| Maturity: | Jan. 22, 2011
|
| Coupon: | 10%, payable monthly
|
| Price: | Par of $11.679
|
| Payout at maturity: | If final share price is less than upper put strike price, 89.957% of the final share price, subject to minimum payout of $8.40 per note; if final share price is greater than or equal to upper put strike price and less than call strike price, par; otherwise, par plus 65% of the amount by which the final share price exceeds the call strike price; payable in cash or stock
|
| Initial strike price: | $11.679
|
| Upper put strike price: | $13.431, 115% of initial strike price
|
| Call strike price: | $15.650, 134% of initial strike price
|
| Pricing date: | Jan. 14
|
| Settlement date: | Jan. 22
|
| Underwriter: | Credit Suisse Securities (USA) LLC
|
| Fees: | None
|
| Cusip: | 22542D860
|
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