Published on 12/29/2006 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse prices $7.704 million 0% notes linked to eight currencies
By E. Janene Geiss
Philadelphia, Dec. 26 - Credit Suisse (USA), Inc. priced a $7.704 million issue of 0% securities due June 30, 2008 linked to a basket of eight currencies, according to a 424B8 filing with the Securities and Exchange Commission.
The basket includes the Thai baht/dollar, Chinese yuan/dollar, Singapore dollar/dollar and South African rand/dollar spot exchange rates, each with a 25% weight. The basket also includes the Swiss franc/dollar, Canadian dollar/dollar, euro/dollar and Czech koruna/dollar spot exchange rates, each with a negative 25% weight.
If the basket value increases, the payout at maturity is par plus the greater of 10.15% and the return on the basket.
If the final basket level is less than zero, the payout will be par.
Issuer: | Credit Suisse (USA), Inc.
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Issue: | Currency-linked securities
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Underlying currencies: | Thai baht/dollar, Chinese yuan/dollar, Singapore dollar/dollar and South African rand/dollar spot exchange rates, each with a 25% weight; Swiss franc/dollar, Canadian dollar/dollar, euro/dollar and Czech koruna/dollar spot exchange rates, each with a negative 25% weight
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Amount: | $7.704 million
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Maturity: | June 30, 2007
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If the basket value increases, the payout at maturity is par plus the greater of 10.15% and the return on the basket; if basket level is greater than participation minimum, payout will be par plus return on basket; if basket level is less than zero, payout will be par
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Participation minimum: | 0.105
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Pricing date: | Dec. 21
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Settlement date: | Dec. 26
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Underwriter: | Credit Suisse Securities (USA) LLC
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Underwriting discount: | 1.75%
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