Published on 10/25/2006 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse prices $967,000 0% notes linked to currency basket
By Angela McDaniels
Seattle, Oct. 25 - Credit Suisse (USA), Inc. priced a $967,000 issue of 0% securities due Oct. 26, 2007 linked to a basket of currencies, according to a 424B8 filing with the Securities and Exchange Commission.
The basket includes equal weights of the dollar/Brazilian real spot exchange rate, the dollar/Mexican peso spot exchange rate, the dollar/Russian ruble spot exchange rate and the dollar/Turkish lira spot exchange rate.
If the basket finishes at or below the initial basket level and above the participation minimum - 91.25% of the initial basket level - the payout at maturity will be par plus a return equal to 100% minus the participation minimum.
If the final basket level falls below the participation minimum, the payout will be par multiplied by the sum of 100% plus the absolute value of the decline in the basket.
If the basket finishes above the initial basket level, the payout will be par.
| Issuer: | Credit Suisse (USA), Inc.
|
| Issue: | Currency-linked securities
|
| Underlying currencies: | Dollar/Brazilian real spot exchange rate, dollar/Mexican peso spot exchange rate, dollar/Russian ruble spot exchange rate, dollar/Turkish lira spot exchange rate, equally weighted
|
| Amount: | $967,000
|
| Maturity: | Oct. 26, 2007
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If the basket finishes above the participation minimum and at or below the initial level, 108.75% of par; if the basket falls below the participation minimum, par multiplied by the sum of 100% plus the absolute decline in the basket; if the basket shows a positive return, par
|
| Participation minimum: | 91.25% of the initial basket level
|
| Pricing date: | Oct. 23
|
| Settlement date: | Oct. 27
|
| Underwriter: | Credit Suisse Securities (USA) LLC
|
| Underwriting discount: | 104 basis points
|
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