Published on 7/28/2006 in the Prospect News Convertibles Daily.
New Issue: Credit Suisse sells $0.219 million 11.5% reverse convertibles linked to Tellabs
By Jennifer Chiou
New York, July 28 - Credit Suisse (USA), Inc. priced a $0.219 million offering of 11.5% reverse convertible securities due July 31, 2007 linked to Tellabs, Inc. stock, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par unless Tellabs stock falls below the knock-in level of $7.70, 70% of its initial price of $11.00, during the life of the notes.
If the trigger is hit, payout will be par in cash if Tellabs' stock closes above its initial price on the valuation date of July 25, 2007. Otherwise, the payout will be a number of Tellabs shares equal to par of $1,000 divided by the initial price.
Issuer: | Credit Suisse (USA) Inc.
|
Issue: | Reverse convertible securities
|
Amount: | $0.219 million
|
Underlying stock: | Tellabs, Inc.
|
Maturity: | July 31, 2007
|
Coupon: | 11.5%, payable quarterly
|
Price: | Par
|
Payout at maturity: | Par unless stock falls below knock-in price of $7.70 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 $11.00 shares of Tellabs stock
|
Initial share price: | $11.00
|
Knock-in price: | $7.70, 70% 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.