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Credit Suisse to price 19% notes linked to Isis Pharmaceuticals
By Angela McDaniels
Seattle, Jan. 16 - Credit Suisse (USA), Inc. plans to price reverse convertible securities due July 31, 2007 linked to the common stock of Isis Pharmaceuticals, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The six-month securities will pay 9.5% for an annualized rate of 19%. Interest will be payable quarterly.
The payout at maturity will be par unless Isis Pharmaceuticals stock falls below the knock-in level - 70% of the initial share price - during the life of the securities and finishes below the initial share price, in which case the payout will be a number of Isis Pharmaceuticals shares equal to $1,000 divided by the initial share price.
The notes will price sometime in January.
Credit Suisse will be the underwriter.
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