New Issue: Credit Suisse prices $413,000 9.75% reverse convertibles linked to J.C. Penney

By Angela McDaniels

Seattle, Aug. 30 - Credit Suisse (USA) Inc. priced a $413,000 issue of 9.75% reverse convertible securities due Aug. 31, 2007 linked to J.C. Penney Co., Inc. common stock, according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be par unless J.C. Penney stock falls below the knock-in price during the life of the notes and finishes below its initial price on Aug. 27, 2007, the valuation date, in which case the payout will be a number of J.C. Penney shares equal to $1,000 divided by the initial share price.

Issuer:	Credit Suisse (USA) Inc.
Issue:	Reverse convertible securities
Amount:	$413,000
Underlying stock:	J.C. Penney Co., Inc.
Maturity:	Aug. 31, 2007
Coupon:	9.75%, payable quarterly
Price:	Par
Payout at maturity:	Par unless J.C. Penney stock falls below knock-in price of $51.464 during the life of the notes and finishes below its initial value, in which case payout will be 15.54485 shares of J.C. Penney stock
Initial share level:	$64.33
Knock-in price:	$51.464, 80% of initial price
Pricing date:	Aug. 28
Settlement date:	Aug. 31
Underwriter:	Credit Suisse Securities (USA) LLC

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