New Issue: Credit Suisse sells $2.776 million 17.75% reverse convertibles linked to Nutri/System

By Jennifer Chiou

New York, July 28 - Credit Suisse (USA), Inc. priced a $2.776 million offering of 17.75% reverse convertible securities due July 31, 2007 linked to Nutri/System, Inc. stock, according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be par unless Nutri/System stock falls below the knock-in level of $25.585, 50% of its initial price of $51.17, during the life of the notes.

If the trigger is hit, payout will be par in cash if Nutri/System stock closes above its initial price on the valuation date of July 25, 2007. Otherwise, the payout will be a number of Nutri/System shares equal to par of $1,000 divided by the initial price.

Issuer:	Credit Suisse (USA) Inc.
Issue:	Reverse convertible securities
Amount:	$2.776 million
Underlying stock:	Nutri/System, Inc.
Maturity:	July 31, 2007
Coupon:	17.75%, payable quarterly
Price:	Par
Payout at maturity:	Par unless stock falls below knock-in price of $25.585 during the life of the notes and closes below its initial value on July 25, 2007, payout will then be par of $1,000 divided by $51.17 shares of Nutri/System stock
Initial share price:	$51.17
Knock-in price:	$25.585, 50% of initial price
Pricing date:	July 26
Settlement date:	July 31
Underwriter:	Credit Suisse

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.