New Issue: Credit Suisse sells $2.43 million of 15.25% reverse convertibles linked to Under Armour

By Laura Lutz

Washington, Nov. 27 - Credit Suisse (USA), Inc. priced $2.43 million of 15.25% reverse convertible securities due May 31, 2007 linked to Under Armour, Inc. stock, according to a 424B2 filing with the Securities and Exchange Commission.

Payout at maturity will be par unless Under Armour stock falls below the knock-in price during the life of the notes and finishes below its initial price of $47.70 on May 24, 2007, the valuation date, in which case the payout will be a number of Under Armour share equal to $1,000 divided by the initial share price.

Issuer:	Credit Suisse Securities (USA), Inc.
Issue:	Reverse convertible securities
Underlying stock:	Under Armour, Inc.
Amount:	$2.43 million
Maturity:	May 31, 2007
Coupon:	15.25%, payable monthly
Price:	Par
Payout at maturity:	Par unless Under Armour stock falls below the knock-in price of $33.39 during the life the notes and finishes below its initial value, in which case payout will be 20.9644 shares of Under Armour stock
Initial price:	$47.70
Knock-in price:	$33.39, 70% of $47.70
Pricing date:	Nov. 22
Settlement date:	Nov. 30
Agent:	Credit Suisse Securities (USA) LLC
Agent's fee:	1.99%

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