New Issue: Credit Suisse sells $1.765 million of 10.25% reverse convertibles linked to Nabors

By Laura Lutz

Indianapolis, Jan. 23 - Credit Suisse (USA), Inc. priced $1.765 million of 10.25% reverse convertible securities due Jan. 25, 2008 linked to Nabors Industries Ltd. stock, according to a 424B2 filing with the Securities and Exchange Commission.

Payout at maturity will be par unless Nabors stock falls below the knock-in price of $23.64 - 80% of the initial value - during the life of the notes and finishes below its initial price of $29.55 on Jan. 18, 2008, the valuation date, in which case the payout will be a number of Nabors shares equal to $1,000 divided by the initial share price.

Issuer:	Credit Suisse Securities (USA), Inc.
Issue:	Reverse convertible securities
Underlying stock:	Nabors Industries Ltd.
Amount:	$1.765 million
Maturity:	Jan. 25, 2008
Coupon:	10.25%, payable quarterly
Price:	Par
Payout at maturity:	Par unless Nabors stock falls below the knock-in price of $23.64 during the life the notes and finishes below its initial value, in which case payout will be 33.841 shares of Nabors stock
Initial price:	$29.55
Knock-in price:	$23.64, 80% of $29.55
Pricing date:	Jan. 19
Settlement date:	Jan. 25
Agent:	Credit Suisse Securities (USA) LLC
Distributor:	FIS
Agent's fee:	3%

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