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Credit Suisse to price 17.15% reverse convertibles linked to Red Hat
By Laura Lutz
Des Moines, Nov. 2 - Credit Suisse (USA), Inc. plans to price an issue of 17.15% reverse convertible securities due May 31, 2007 linked to the common stock of Red Hat, Inc.
Interest will be paid quarterly.
At maturity, investors will receive par unless Red Hat stock falls below the knock-in price - 65% of the initial share price - during the life of the notes and finishes below the initial share price, in which case the payout will be a number of Red Hat shares equal to $1,000 divided by the initial share price.
Credit Suisse Securities (USA) LLC will be the agent.
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