Credit Suisse to price 17% reverse convertibles linked to Hess

By Angela McDaniels

Tacoma, Wash., Dec. 3 - Credit Suisse, Nassau branch plans to price 17% reverse convertible securities due March 28, 2008 linked to the common stock of Hess Corp., according to a 424B2 filing with the Securities and Exchange Commission.

Interest will be payable monthly.

The payout at maturity will be par unless Hess shares fall by more than 20% during the life of the notes and the final share price is less than the initial share price, in which case the payout will be a number of Hess shares equal to par divided by the initial share price.

The notes will price and settle in December.

Credit Suisse Securities (USA) LLC will be the underwriter.

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