Published on 1/30/2007 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $1 million 17.25% reverse convertibles linked to NutriSystem
By Laura Lutz
Washington, Jan. 30 - Credit Suisse (USA), Inc. priced $1 million of 17.25% reverse convertible securities due May 2, 2007 linked to NutriSystem, Inc. stock, according to an FWP filing with the Securities and Exchange Commission.
Payout at maturity will be par unless NutriSystem stock falls below the knock-in price of $43.38 - 75% of the initial value - during the life of the notes and finishes below its initial price of $57.84 on April 26, the valuation date, in which case the payout will be a number of NutriSystem shares equal to $1,000 divided by the initial share price.
| Issuer: | Credit Suisse Securities (USA), Inc.
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| Issue: | Reverse convertible securities
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| Underlying stock: | NutriSystem, Inc.
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| Amount: | $1 million
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| Maturity: | May 2, 2007
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| Coupon: | 17.25%, payable quarterly
|
| Price: | Par
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| Payout at maturity: | Par unless NutriSystem stock falls below the knock-in price of $43.38 during the life the notes and finishes below its initial value, in which case payout will be 17.289 shares of NutriSystem stock
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| Initial price: | $57.84
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| Knock-in price: | $43.38, 75% of $57.84
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| Pricing date: | Jan. 29
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| Settlement date: | Feb. 2
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| Agent: | Credit Suisse Securities (USA) LLC
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| Distributor: | FIS
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| Agent fee: | 1.75%
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