Published on 12/29/2006 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $3.762 million of 12% reverse convertibles linked to Mastercard
By E. Janene Geiss
Philadelphia, Dec. 26 - Credit Suisse (USA), Inc. priced $3.762 million of 12% reverse convertible securities due June 29, 2007 linked to Mastercard Inc. stock, according to a 424B2 filing with the Securities and Exchange Commission.
Payout at maturity will be par unless Mastercard stock falls below the knock-in price during the life of the notes and finishes below its initial price of $95.71 on June 25, 2007, the valuation date, in which case the payout will be a number of Mastercard 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: | Mastercard Inc.
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Amount: | $3.762 million
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Maturity: | June 29, 2007
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Coupon: | 12%, payable quarterly
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Price: | Par
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Payout at maturity: | Par unless Mastercard stock falls below the knock-in price of $71.78 during the life the notes and finishes below its initial value, in which case payout will be 10.45 shares of Mastercard stock
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Initial price: | $95.71
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Knock-in price: | $71.78, 75% of $95.71
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Pricing date: | Dec. 21
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Settlement date: | Dec. 29
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Agent: | Credit Suisse Securities (USA) LLC
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Agent's fee: | 2%
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