Published on 1/23/2007 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $3.6 million 16.8% reverse convertibles linked to IntercontinentalExchange
By Laura Lutz
Indianapolis, Jan. 23 - Credit Suisse (USA), Inc. priced $3.597 million of 16.8% reverse convertible securities due July 25, 2007 linked to IntercontinentalExchange, Inc. stock, according to a 424B2 filing with the Securities and Exchange Commission.
Payout at maturity will be par unless IntercontinentalExchange stock falls below the knock-in price of $88.837 - 70% of the initial value - during the life of the notes and finishes below its initial price of $126.91 on July 19, the valuation date, in which case the payout will be a number of IntercontinentalExchange shares equal to $1,000 divided by the initial share price.
Issuer: | Credit Suisse Securities (USA), Inc.
|
Issue: | Reverse convertible securities
|
Underlying stock: | IntercontinentalExchange, Inc.
|
Amount: | $3.597 million
|
Maturity: | July 25, 2007
|
Coupon: | 16.8%, payable quarterly
|
Price: | Par
|
Payout at maturity: | Par unless IntercontinentalExchange stock falls below the knock-in price of $88.837 during the life the notes and finishes below its initial value, in which case payout will be 7.88 shares of IntercontinentalExchange stock
|
Initial price: | $126.91
|
Knock-in price: | $88.837, 70% of $126.91
|
Pricing date: | Jan. 19
|
Settlement date: | Jan. 25
|
Agent: | Credit Suisse Securities (USA) LLC
|
Distributor: | FIS
|
Agent's fee: | 2%
|
© 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.