Published on 9/29/2006 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse prices $914,000 of 11% reverse convertibles linked to Las Vegas Sands
By Laura Lutz
Des Moines, Sept. 29 - Credit Suisse (USA) Inc. priced a $914,000 issue of 11% reverse convertible securities due Sept. 28, 2007 linked to Las Vegas Sands Corp. common stock, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par unless Las Vegas Sands stock falls below the knock-in price during the life of the notes and finishes below its initial price on Sept. 24, 2007, the valuation date, in which case the payout will be a number of Las Vegas Sands shares equal to $1,000 divided by the initial share price.
Issuer: | Credit Suisse (USA) Inc.
|
Issue: | Reverse convertible securities
|
Amount: | $914,000
|
Underlying stock: | Las Vegas Sands Corp.
|
Maturity: | Sept. 28, 2007
|
Coupon: | 11%, payable quarterly
|
Price: | Par
|
Payout at maturity: | Par unless Las Vegas Sands stock falls below knock-in price of $47.53 during the life of the notes and finishes below its initial value, in which case payout will be 14.7275 shares of Las Vegas Sands stock
|
Initial share level: | $67.90
|
Knock-in price: | $47.53, 70% of initial price
|
Pricing date: | Sept. 26
|
Settlement date: | Sept. 29
|
Underwriter: | Credit Suisse Securities (USA) LLC
|
Agents' fee: | $28.10 per $1,000 principal amount
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.