New Issue: Credit Suisse sells $0.705 million 10.25% reverse convertibles linked to Corning

By Jennifer Chiou

New York, May 29 - Credit Suisse (USA), Inc. priced $0.705 million of 10.25% reverse convertible securities due Nov. 30, 2007 linked to Corning Inc. stock, according to a 424B2 filing with the Securities and Exchange Commission.

Payout at maturity will be par unless Corning stock falls below the knock-in price of $19.184 - 80% of the initial value - during the life of the notes and finishes below its initial price of $23.98, in which case the payout will be a number of Corning shares equal to $1,000 divided by the initial share price.

Credit Suisse Securities (USA) LLC is the agent.

Issuer:	Credit Suisse Securities (USA), Inc.
Issue:	Reverse convertible securities
Underlying stock:	Corning Inc.
Amount:	$0.705 million
Maturity:	Nov. 30, 2007
Coupon:	10.25%, payable monthly
Price:	Par
Payout at maturity:	Par unless Corning stock falls below the knock-in price of $19.184 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:	$23.98
Knock-in price:	$19.184, 80% of $23.98
Pricing date:	May 24
Settlement date:	May 31
Agent:	Credit Suisse Securities (USA) LLC
Fee:	2%

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