Credit Suisse to sell 16.25% reverse convertibles linked to Oregon Steel Mills

By Jennifer Chiou

New York, Sept. 7 - Credit Suisse (USA), Inc. plans to sell an offering of 16.25% reverse convertible securities due March 30, 2007 linked to Oregon Steel Mills, Inc. 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 Oregon Steel Mills 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 Oregon Steel Mills' stock closes above its initial price on the valuation date of March 26, 2007. Otherwise, the payout will be a number of Oregon Steel Mills shares equal to par of $1,000 divided by the initial price.

Credit Suisse will be the underwriter.

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