Published on 3/19/2007 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $1.322 million 11.5% reverse convertibles linked to Harmony Gold
By Laura Lutz
Washington, March 19 - Credit Suisse (USA), Inc. priced $1.322 million of 11.5% reverse convertible securities due March 20, 2008 linked to American Depositary Receipts representing Harmony Gold Mining Co. Ltd. stock, according to a 424B2 filing with the Securities and Exchange Commission.
Payout at maturity will be par unless Harmony Gold stock falls below the knock-in price of $10.2225 - 75% of the initial value - during the life of the notes and finishes below its initial price of $13.63, in which case the payout will be a number of Harmony Gold shares equal to $1,000 divided by the initial share price.
Issuer: | Credit Suisse (USA), Inc.
|
Issue: | Reverse convertible securities
|
Underlying stock: | Harmony Gold Mining Co. Ltd.
|
Amount: | $1.322 million
|
Maturity: | March 20, 2008
|
Coupon: | 11.5%, payable quarterly
|
Price: | Par
|
Payout at maturity: | Par unless Harmony Gold stock falls below the knock-in price of $10.2225 during the life the notes and finishes below its initial value, in which case payout will be a number of shares equal to $1,000 divided by the initial share price
|
Initial price: | $13.63
|
Knock-in price: | $10.2225, 75% of $13.63
|
Pricing date: | March 15
|
Settlement date: | March 21
|
Agent: | Credit Suisse Securities (USA) LLC
|
Distributor: | FIS
|
Agent fee: | 2.96%
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.