New Issue: Credit Suisse prices $1.275 million 0% ARES linked to S&P 500

By Laura Lutz

Washington, Jan. 30 - Credit Suisse (USA), Inc. priced a $1.275 million issue of 0% Accelerated Return Equity Securities (ARES) due Feb. 28, 2008 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

If the final index level is greater than the initial index level, the payout at maturity will be par plus double the gain on the index, capped at 12%. Investors will be fully exposed to any decline in the index.

Credit Suisse Securities (USA) LLC will be the underwriter. FIS is the distributor.

Issuer:	Credit Suisse Securities (USA), Inc.
Issue:	Reverse convertible securities
Underlying index:	S&P 500 index
Amount:	$1.275 million
Maturity:	Feb. 28, 2008
Coupon:	0%
Price:	Par
Payout at maturity:	If index performance is positive, par plus double any gain on index, capped at 12%; otherwise, return on the index
Initial index level:	1,422.18
Pricing date:	Jan. 26
Settlement date:	Jan. 31
Agent:	Credit Suisse Securities (USA) LLC
Distributor:	FIS
Agent fee:	1%

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