Credit Suisse to sell 10.25% reverse convertibles linked to Foster Wheeler

By Jennifer Chiou

New York, Nov. 2 - Credit Suisse (USA), Inc. plans to sell an offering of 10.25% reverse convertible securities due Nov. 30, 2007 linked to Foster Wheeler Ltd. stock, according to a 424B2 filing with the Securities and Exchange Commission.

Interest will be payable quarterly.

The payout at maturity will be par unless Foster Wheeler stock falls below the knock-in level of 75% of its initial price during the life of the notes.

If the trigger is hit, payout will be par in cash if Foster Wheeler stock closes above its initial price on the valuation date of Nov. 26, 2007. Otherwise, the payout will be a number of Foster Wheeler shares equal to par of $1,000 divided by the initial price.

The securities are expected to settle in November.

Credit Suisse will be the underwriter.

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