New Issue: Credit Suisse sells $8.746 million of 19.5% reverse convertibles linked to Nutri/System

By Laura Lutz

Des Moines, Oct. 27 - Credit Suisse (USA), Inc. priced $8.746 million of 19.5% reverse convertible securities due April 30, 2007 linked to Nutri/System, Inc. stock, according to a 424B2 filing with the Securities and Exchange Commission.

Payout at maturity will be par unless Nutri/System stock falls below the knock-in price during the life of the notes and finishes below its initial price of $64.17 on April 24, 2007, the valuation date, in which case the payout will be a number of Nutri/System shares equal to $1,000 divided by the initial share price.

Issuer:	Credit Suisse Securities (USA), Inc.
Issue:	Reverse convertible securities
Underlying stock:	Nutri/System, Inc.
Amount:	$8.746 million
Maturity:	April 30, 2007
Coupon:	19.5%, payable quarterly
Price:	Par
Payout at maturity:	Par unless Nutri/System stock falls below the knock-in price of $38.5 during the life the notes and finishes below its initial value, in which case payout will be 15.5836 shares of Nutri/System stock
Initial price:	$64.17
Knock-in price:	$38.5, 60% of $64.17
Pricing date:	Oct. 26
Settlement date:	Oct. 31
Agent:	Credit Suisse Securities (USA) LLC
Agent's fee:	2.185%

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.