New Issue: Credit Suisse sells $720,000 14% reverse convertibles linked to Ciena

By E. Janene Geiss

Philadelphia, July 27 - Credit Suisse (USA), Inc. priced $720,000 of reverse convertible securities due Jan. 31, 2008 linked to Ciena Corp. stock, according to a 424B2 filing with the Securities and Exchange Commission.

The six-month notes will pay 7% for an annualized rate of 14%. Interest will be payable monthly.

Payout at maturity will be par unless Ciena stock falls below the knock-in price of $28.725 - 75% of the initial value - during the life of the notes and finishes below its initial price of $38.30, in which case the payout will be a number of Ciena 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:	Ciena Corp. (Nasdaq: CIEN)
Amount:	$720,000
Maturity:	Jan. 31, 2008
Coupon:	14%, payable monthly
Price:	Par
Payout at maturity:	Par unless Ciena stock falls below the knock-in price of $28.725 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:	$38.30
Knock-in price:	$28.725, 75% of $38.30
Pricing date:	July 25
Settlement date:	July 31
Agent:	Credit Suisse Securities (USA) LLC
Fees:	2.25%

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