New Issue: Credit Suisse sells $623,000 of 19% reverse convertibles linked to Isis

By Laura Lutz

Washington, Jan. 29 - Credit Suisse (USA), Inc. priced $623,000 of 19% reverse convertible securities due July 31, 2007 linked to Isis Pharmaceuticals, Inc. stock, according to a 424B2 filing with the Securities and Exchange Commission.

Payout at maturity will be par unless Isis stock falls below the knock-in price of $7.322 - 70% of the initial value - during the life of the notes and finishes below its initial price of $10.46 on July 25, 2007, the valuation date, in which case the payout will be a number of Isis shares equal to $1,000 divided by the initial share price.

Issuer:	Credit Suisse Securities (USA), Inc.
Issue:	Reverse convertible securities
Underlying stock:	Isis Pharmaceuticals, Inc.
Amount:	$623,000
Maturity:	July 31, 2007
Coupon:	19%, payable quarterly
Price:	Par
Payout at maturity:	Par unless Isis stock falls below the knock-in price of $7.322 during the life the notes and finishes below its initial value, in which case payout will be 95.602 shares of Isis stock
Initial price:	$10.46
Knock-in price:	$7.322, 70% of $10.46
Pricing date:	Jan. 25
Settlement date:	Jan. 31
Agent:	Credit Suisse Securities (USA) LLC
Distributor:	FIS
Agent's fee:	2.05%

© 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.