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Credit Suisse plans 14.5% reverse convertibles linked to Eagle Materials via FIS
By Jennifer Chiou
New York, Oct. 3 - Credit Suisse (USA), Inc. plans to price an issue of 14.5% reverse convertible notes due Oct. 31, 2007 linked to Eagle Materials, Inc. stock via Fixed Income Securities, according to a term sheet.
Interest will be payable quarterly.
Payout at maturity will be par in cash unless Eagle Materials stock hits the knock-in level - 70% of the initial price - during the life of the notes and finishes below the initial price, in which case the payout will be a number of Eagle Materials shares equal to $1,000 divided by the initial price.
The notes will price on Oct. 26 and settle on Oct. 31.
The issuer ratings are Aa3 and AA-.
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