New Issue: Credit Suisse prices $1.724 million of 16.25% reverse convertibles linked to Oregon Steel

By Laura Lutz

Des Moines, Sept. 29 - Credit Suisse (USA) Inc. priced a $1.724 million issue of 16.25% reverse convertible securities due March 30, 2007 linked to Oregon Steel Mills, Inc. common stock, according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be par unless Oregon Steel stock falls below the knock-in price during the life of the notes and finishes below its initial price on March 26, 2007, the valuation date, in which case the payout will be a number of Oregon Steel shares equal to $1,000 divided by the initial share price.

Issuer:	Credit Suisse (USA) Inc.
Issue:	Reverse convertible securities
Amount:	$1.724 million
Underlying stock:	Oregon Steel Mills, Inc.
Maturity:	March 30, 2007
Coupon:	16.25%, payable quarterly
Price:	Par
Payout at maturity:	Par unless Oregon Steel stock falls below knock-in price of $35.8425 during the life of the notes and finishes below its initial value, in which case payout will be 20.9249 shares of Oregon Steel stock
Initial share level:	$47.79
Knock-in price:	$35.8425, 75% of initial price
Pricing date:	Sept. 26
Settlement date:	Sept. 29
Underwriter:	Credit Suisse Securities (USA) LLC
Agents' fee:	$19.80 per $1,000 principal amount

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