Published on 12/7/2006 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $1 million of 20% reverse convertibles linked to Encore Wire
By Laura Lutz
Washington, Dec. 7 - Credit Suisse (USA), Inc. priced $1 million of 20% reverse convertible securities due June 12, 2007 linked to Encore Wire, Corp. stock, according to a 424B2 filing with the Securities and Exchange Commission.
Payout at maturity will be par unless Encore Wire stock falls below the knock-in price during the life of the notes and finishes below its initial price of $25.16 on June 6, 2007, the valuation date, in which case the payout will be a number of Encore Wire share 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: | Encore Wire, Corp.
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Amount: | $1 million
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Maturity: | June 12, 2007
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Coupon: | 20%, payable monthly
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Price: | Par
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Payout at maturity: | Par unless Encore Wire stock falls below the knock-in price of $17.61 during the life the notes and finishes below its initial value, in which case payout will be 39.7456 shares of Encore Wire stock
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Initial price: | $25.16
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Knock-in price: | $17.612, 70% of $25.16
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Pricing date: | Dec. 6
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Settlement date: | Dec. 12
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Agent: | Credit Suisse Securities (USA) LLC
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Agent's fee: | 1.865%
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