Published on 3/19/2007 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $1.559 million 13.25% notes linked to IntercontinentalExchange
By Laura Lutz
Washington, March 19 - Credit Suisse (USA), Inc. priced $1.559 million of 13.25% reverse convertible securities due March 20, 2008 linked to IntercontinentalExchange, Inc. stock, according to a 424B2 filing with the Securities and Exchange Commission.
Payout at maturity will be par unless IntercontinentalExchange stock falls below the knock-in price of $83.265 - 65% of the initial value - during the life of the notes and finishes below its initial price of $128.10, in which case the payout will be a number of IntercontinentalExchange shares equal to $1,000 divided by the initial share price.
Issuer: | Credit Suisse (USA), Inc.
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Issue: | Reverse convertible securities
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Underlying stock: | IntercontinentalExchange, Inc.
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Amount: | $1.559 million
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Maturity: | March 20, 2008
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Coupon: | 13.25%, payable quarterly
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Price: | Par
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Payout at maturity: | Par unless IntercontinentalExchange stock falls below the knock-in price of $83.265 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
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Initial price: | $128.10
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Knock-in price: | $83.265, 65% of $128.10
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Pricing date: | March 15
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Settlement date: | March 21
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Agent: | Credit Suisse Securities (USA) LLC
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Distributor: | FIS
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Agent fee: | 3.15%
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