Published on 3/30/2005 in the Prospect News Convertibles Daily.
New Issue: CSFB sells $1 million 12% reverse convertibles linked to Ryland
By Caroline Salls
Pittsburgh, March 30 - Credit Suisse First Boston (USA) Inc. priced $1 million of one-year 12% reverse convertible securities linked to The Ryland Group Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Issuer: | Credit Suisse First Boston (USA) Inc.
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Issue: | Reverse convertible securities
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Underlying stock: | The Ryland Group Inc.
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Amount: | $1 million
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Coupon: | 12%, payable quarterly
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Maturity: | March 31, 2006
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Price: | Par
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Payout at maturity: | Par in cash if Ryland stock never trades at knock-in level or below, otherwise smaller of par in cash or $1,000/$63.64
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Knock-in price: | $50.912, 80% of initial price of $63.64
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Exchange ratio: | $1,000/$63.64
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Exchange price: | $63.64
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Call: | Non-callable
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Pricing date: | March 28
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Settlement date: | March 31
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Lead manager: | Credit Suisse First Boston
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Distribution: | Off shelf
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