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Credit Suisse to price 14% reverse convertibles linked to Ciena
By Susanna Moon
Chicago, July 9 - Credit Suisse plans to price an issue of 14% reverse convertible notes due Jan. 31, 2008 linked to Ciena Corp. common stock, according to an FWP filing with the Securities and Exchange Commission.
Interest will be payable monthly.
The payout at maturity will be par unless Ciena stock falls below the knock-in price - 75% of the initial share price - during the life of the notes and finishes below the initial share price, in which case the payout will be a number of Ciena shares equal to $1,000 divided by the initial share price.
The issue is expected to price and settle in July.
Credit Suisse is the agent.
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