Published on 8/30/2006 in the Prospect News Convertibles Daily.
New Issue: Credit Suisse prices $1.934 million 10.5% reverse convertibles linked to Occidental Petroleum
By Angela McDaniels
Seattle, Aug. 30 - Credit Suisse (USA) Inc. priced a $1.934 million issue of 10.5% reverse convertible securities due Aug. 31, 2007 linked to Occidental Petroleum Corp. common stock, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par unless Occidental Petroleum 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 Occidental Petroleum shares equal to $1,000 divided by the initial share price.
Issuer: | Credit Suisse (USA) Inc.
|
Issue: | Reverse convertible securities
|
Amount: | $1.934 million
|
Underlying stock: | Occidental Petroleum Corp.
|
Maturity: | Aug. 31, 2007
|
Coupon: | 10.5%, payable quarterly
|
Price: | Par
|
Payout at maturity: | Par unless Occidental Petroleum stock falls below knock-in price of $42.104 during the life of the notes and finishes below its initial value, in which case payout will be 19.00057 shares of Occidental Petroleum stock
|
Initial share level: | $52.63
|
Knock-in price: | $42.104, 80% of initial price
|
Pricing date: | Aug. 28
|
Settlement date: | Aug. 31
|
Underwriter: | Credit Suisse Securities (USA) LLC
|
|
© 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.