New Issue: Credit Suisse sells $500,000 12.8% reverse convertibles linked to Apple

By Jennifer Chiou

New York, Aug. 27 - Credit Suisse (USA), Inc. priced $500,000 of 12.8% annualized reverse convertible securities due Dec. 4, 2007 linked to Apple Inc. stock, according to a 424B2 filing with the Securities and Exchange Commission.

Payout at maturity will be par unless Apple stock falls below the knock-in price of $93.21 - 70% of the initial value - during the life of the notes and finishes below its initial price of $133.16, in which case the payout will be a number of Apple 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:	Apple Inc. (Nasdaq: AAPL)
Amount:	$500,000
Maturity:	Dec. 4, 2007
Coupon:	12.8% annualized, payable at maturity
Price:	Par
Payout at maturity:	Par unless Apple stock falls below the knock-in price of $93.21 during the life of the notes and finishes below its initial price, in which case payout will be a number of shares equal to $1,000 divided by the initial share price
Initial share price:	$133.16
Knock-in price:	$93.21, 70% of $133.16
Pricing date:	Aug. 27
Settlement date:	Sept. 4
Agent:	Credit Suisse Securities (USA) LLC
Fees:	1%

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