Credit Suisse to sell 10.75% reverse convertibles linked to Texas Instruments

By Jennifer Chiou

New York, July 10 - Credit Suisse (USA), Inc. plans to sell an offering of 10.75% reverse convertible securities due July 31, 2007 linked to Texas Instruments, 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 Texas Instruments stock falls below the knock-in level of 80% of its initial price during the life of the notes.

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

Credit Suisse will be the underwriter.

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