By E. Janene Geiss
Philadelphia, May 16 - Credit Suisse priced $1,812,000 of 13% annualized reverse convertible securities due Nov. 19, 2008 linked the common stock of Visa Inc., according to an FWP filing with the Securities and Exchange Commission.
Interest will be payable monthly.
If Visa shares fall below the knock-in price - 75% of the initial price - during the life of the notes and finish below the initial share price, the payout at maturity will be a number of Visa shares equal to par divided by the initial price.
Otherwise, the payout will be par.
Credit Suisse Securities (USA) LLC is the underwriter.
| Issuer: | Credit Suisse
|
| Issue: | Reverse convertible securities
|
| Underlying stock: | Visa Inc. (NYSE: V)
|
| Amount: | $1,812,000
|
| Maturity: | Nov. 19, 2008
|
| Coupon: | 13%, payable monthly
|
| Price: | Par
|
| Payout at maturity: | Par unless Visa shares fall below the knock-in price during the life the notes and finish below the initial share price, in which case payout will be a number of shares equal to par divided by the initial price
|
| Initial price: | $82.23
|
| Knock-in price: | $61.68, 75% of $82.23
|
| Pricing date: | May 14
|
| Settlement date: | May 19
|
| Underwriter: | Credit Suisse Securities (USA) LLC
|
| Fees: | 3%
|
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