Credit Suisse plans issue of 0% Bares linked to S&P 500

By Jennifer Chiou

New York, June 12 - Credit Suisse (USA), Inc. plans to sell 0% Buffered Accelerated Return Equity Securities (Bares) due July 16, 2010 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

If the final index level is greater than the initial index level, the payout at maturity will be par plus the percentage gain, which will be multiplied by an additional percentage expected to be between 105% and 110%.

If the index loses up to 15%, the payout at maturity will be par. Investors will share in losses equal to the index decline beyond 15% up to a maximum loss of 85% of the principal amount.

The securities are expected to price and settle in July.

Credit Suisse Securities (USA) LLC will be the underwriter.

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