New Issue: Credit Suisse sells $1 million 15.51% reverse convertibles linked to Headwaters

By Angela McDaniels

Seattle, Aug. 17 - Credit Suisse (USA), Inc. priced a $1 million offering of 15.51% reverse convertible securities due Aug. 21, 2007 linked to Headwaters Inc. stock, according to an FWP filing with the Securities and Exchange Commission.

The payout at maturity will be par unless Headwaters stock falls below the knock-in level during the life of the notes and finishes below its initial price on Aug. 3, 2007, the valuation date, in which case the payout will be a number of Headwaters shares equal to $1,000 divided by the initial price.

Issuer:	Credit Suisse (USA) Inc.
Issue:	Reverse convertible securities
Amount:	$1 million
Underlying stock:	Headwaters Inc.
Maturity:	Aug. 21, 2007
Coupon:	15.51%, payable monthly
Price:	Par
Payout at maturity:	Par unless stock falls below knock-in price of $15.421 during the life of the notes and finishes below its initial price of $22.03, in which case payout will be 45.392646 shares of Headwaters stock
Initial share price:	$22.03
Knock-in price:	$15.421, 70% of initial price
Pricing date:	Aug. 16
Settlement date:	Aug. 21
Underwriter:	Credit Suisse Securities (USA) LLC

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