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Credit Suisse plans 8.75% reverse convertibles linked to Alcatel Lucent via FIS
By Jennifer Chiou
New York, Feb. 5 - Credit Suisse (USA), Inc. plans to price an issue of 8.75% reverse convertible notes due Feb. 27, 2008 linked to American Depositary Receipts representing Alcatel Lucent stock via distributor Fixed Income Securities, according to a 424B2 filing with the Securities and Exchange Commission.
Interest will be payable quarterly.
Payout at maturity will be par in cash unless Alcatel Lucent ADRs hit the knock-in level - 80% of the initial price - during the life of the notes and finishes below the initial price, in which case the payout will be a number of Alcatel Lucent shares equal to $1,000 divided by the initial price.
Credit Suisse is the underwriter.
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