New Issue: Credit Suisse sells $0.190 million 11.75% reverse convertibles linked to Foundation Coal

By Jennifer Chiou

New York, May 25 - Credit Suisse (USA), Inc. priced a $0.190 million offering of 11.75% reverse convertible securities due May 25, 2007 linked to Foundation Coal Holdings, Inc. stock, according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be par unless Foundation Coal Holdings stock falls below the knock-in level of $35.32, 80% of its initial price of $44.16, during the life of the notes.

If the trigger is hit, payout will be par in cash if Foundation Coal Holdings' stock closes above its initial price on the valuation date of May 21, 2007. Otherwise, the payout will be a number of Foundation Coal Holdings shares equal to par of $1,000 divided by the initial price.

Issuer:	Credit Suisse (USA) Inc.
Issue:	Reverse convertible securities
Amount:	$0.190 million
Underlying stock:	Foundation Coal Holdings, Inc.
Maturity:	May 25, 2007
Coupon:	11.75%, payable quarterly
Price:	Par
Payout at maturity:	Par unless stock falls below knock-in price of $35.32 during the life of the notes and closes below its initial value on May 21, 2007, payout will then be par of $1,000 divided by $44.16 shares of Foundation Coal Holdings stock
Initial share price:	$44.16
Knock-in price:	$35.32, 80% of initial price
Pricing date:	May 23
Settlement date:	May 25
Underwriter:	Credit Suisse

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