Published on 10/27/2006 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $870,000 of 18.25% reverse convertibles linked to Nasdaq
By Laura Lutz
Des Moines, Oct. 27 - Credit Suisse (USA), Inc. priced $870,000 of 18.25% reverse convertible securities due April 30, 2007 linked to Nasdaq Stock Market, Inc. stock, according to a 424B2 filing with the Securities and Exchange Commission.
Payout at maturity will be par unless Nasdaq stock falls below the knock-in price during the life of the notes and finishes below its initial price of $37.30 on April 24, 2007, the valuation date, in which case the payout will be a number of Nasdaq shares equal to $1,000 divided by the initial share price.
Issuer: | Credit Suisse Securities (USA), Inc.
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Issue: | Reverse convertible securities
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Underlying stock: | Nasdaq Stock Market, Inc.
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Amount: | $870,000
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Maturity: | April 30, 2007
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Coupon: | 18.25%, payable quarterly
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Price: | Par
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Payout at maturity: | Par unless Nasdaq stock falls below the knock-in price of $29.84 during the life the notes and finishes below its initial value, in which case payout will be 26.8097 shares of Nasdaq stock
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Initial price: | $37.30
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Knock-in price: | $29.84, 80% of $37.30
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Pricing date: | Oct. 26
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Settlement date: | Oct. 31
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Agent: | Credit Suisse Securities (USA) LLC
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Agent's fee: | 2.035%
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