New Issue: Credit Suisse sells $595,000 11% reverse convertibles linked to Bear Stearns

By E. Janene Geiss

Philadelphia, July 27 - Credit Suisse (USA), Inc. priced $595,000 of reverse convertible securities due Jan. 31, 2008 linked to The Bear Stearns Cos. Inc. stock, according to a 424B2 filing with the Securities and Exchange Commission.

The six-month notes will pay 5.5% for an annualized rate of 11%. Interest will be payable monthly.

Payout at maturity will be par unless Bear Stearns stock falls below the knock-in price of $103.472 - 80% of the initial value - during the life of the notes and finishes below its initial price of $129.34, in which case the payout will be a number of Bear Stearns 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:	The Bear Stearns Cos. Inc. (NYSE: BSC)
Amount:	$595,000
Maturity:	Jan. 31, 2008
Coupon:	11%, payable monthly
Price:	Par
Payout at maturity:	Par unless Bear Stearns stock falls below the knock-in price of $103.472 during the life of 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:	$129.34
Knock-in price:	$103.472, 80% of $129.34
Pricing date:	July 25
Settlement date:	July 31
Agent:	Credit Suisse Securities (USA) LLC
Fee:	2.2%

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