New Issue: Credit Suisse prices $2.1 million 14.5% reverse convertibles linked to Under Armour

By Jennifer Chiou

New York, Feb. 12 - Credit Suisse (USA), Inc. priced $2.1 million of reverse convertible securities due Aug. 27, 2007 linked to Under Armour, Inc. stock, according to an FWP filing with the Securities and Exchange Commission.

The six-month securities will pay 7.25% for an annualized rate of 14.5%.

The payout at maturity will be par unless Under Armour stock falls below the knock-in price of $35.01025 during the life of the notes and finishes below its initial share price of $48.29 on Aug. 21, 2007, the valuation date, in which case the payout will be a number of Under Armour shares equal to $1,000 divided by the initial share price.

Issuer:	Credit Suisse Securities (USA), Inc.
Issue:	Reverse convertible securities
Underlying stock:	Under Armour, Inc.
Amount:	$2.1 million
Maturity:	Aug. 27, 2007
Coupon:	14.5%, payable quarterly
Price:	Par
Payout at maturity:	Par unless Under Armour stock falls below the knock-in price during the life of the notes and finishes below its initial share price, in which case payout will be 20.708 Under Armour shares
Initial share price:	$48.29
Knock-in price:	$35.01025, 72.5% of $48.29
Pricing date:	Feb. 9
Settlement date:	Feb. 26
Underwriter:	Credit Suisse Securities (USA) LLC
Underwriting discount:	1.3%

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