New Issue: Credit Suisse prices $1.77 million of 16% reverse convertibles linked to XM

By Laura Lutz

Des Moines, Sept. 29 - Credit Suisse (USA) Inc. priced a $1.765 million issue of 16% reverse convertible securities due Sept. 28, 2007 linked to XM Satellite Radio Holdings, Inc. common stock, according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be par unless XM 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 XM shares equal to $1,000 divided by the initial share price.

Issuer:	Credit Suisse (USA) Inc.
Issue:	Reverse convertible securities
Amount:	$1.765 million
Underlying stock:	XM Satellite Radio Holdings, Inc.
Maturity:	Sept. 28, 2007
Coupon:	16%, payable quarterly
Price:	Par
Payout at maturity:	Par unless XM stock falls below knock-in price of $8.827 during the life of the notes and finishes below its initial value, in which case payout will be 73.6377 shares of XM stock
Initial share level:	$13.58
Knock-in price:	$8.827, 65% of initial price
Pricing date:	Sept. 26
Settlement date:	Sept. 29
Underwriter:	Credit Suisse Securities (USA) LLC
Agents' fee:	$19.60 per $1,000 principal amount

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