By Susanna Moon
Chicago, Oct. 26 - Credit Suisse priced $3 million of 10% reverse convertible securities due May 5, 2008 linked to PG&E Corp. stock, according to an FWP filing with the Securities and Exchange Commission.
Interest is payable monthly.
Payout at maturity will be par unless the stock falls below the knock-in price of $39.00 - 83% of the initial value - during the life of the notes and finishes below its initial price of $46.99, in which case the payout will be a number of PG&E shares equal to $1,000 divided by the initial share price.
Credit Suisse Securities (USA) LLC is the underwriter.
| Issuer: | Credit Suisse
|
| Issue: | Reverse convertible securities
|
| Underlying stock: | PG&E Inc. (NYSE: PCG)
|
| Amount: | $3 million
|
| Maturity: | May 5, 2008
|
| Coupon: | 10%, payable monthly
|
| Price: | Par
|
| Payout at maturity: | Par unless PG&E stock falls below the knock-in price during the life of the notes and finishes below its initial price, in which case payout will be a number of shares equal to $1,000 divided by the initial share price
|
| Initial share price: | $46.99
|
| Knock-in price: | $39.00, or 83% of $46.99
|
| Pricing date: | Oct. 25
|
| Settlement date: | Nov. 5
|
| Underwriter: | Credit Suisse Securities (USA) LLC
|
| Distributor: | FIS
|
| Fees: | 2.3%
|
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