Published on 3/19/2007 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $2.613 million 11.5% reverse convertibles linked to NYSE Group
By Laura Lutz
Washington, March 19 - Credit Suisse (USA), Inc. priced $2.613 million of 11.5% reverse convertible securities due March 20, 2008 linked to NYSE Group, Inc. stock, according to a 424B2 filing with the Securities and Exchange Commission.
Payout at maturity will be par unless NYSE Group stock falls below the knock-in price of $57.68 - 70% of the initial value - during the life of the notes and finishes below its initial price of $82.40, in which case the payout will be a number of NYSE Group shares equal to $1,000 divided by the initial share price.
Issuer: | Credit Suisse Securities (USA), Inc.
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Issue: | Reverse convertible securities
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Underlying stock: | NYSE Group, Inc.
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Amount: | $2.613 million
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Maturity: | March 20, 2008
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Coupon: | 11.5%, payable quarterly
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Price: | Par
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Payout at maturity: | Par unless NYSE Group stock falls below the knock-in price of $57.68 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: | $82.40
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Knock-in price: | $57.68, 70% of $82.40
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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: | 3.16%
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