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Credit Suisse to price 11.75% reverse convertibles linked to ImClone
By Laura Lutz
Washington, Nov. 27 - Credit Suisse (USA), Inc. plans to price an issue of 11.75% reverse convertible securities due May 31, 2007 linked to the common stock of ImClone Systems, Inc.
Interest will be paid quarterly.
At maturity, investors will receive par unless ImClone stock falls below the knock-in price - 80% 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 ImClone shares equal to $1,000 divided by the initial share price.
Credit Suisse Securities (USA) LLC will be the agent.
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