Published on 3/30/2006 in the Prospect News Convertibles Daily.
New Issue: Credit Suisse prices $1.2 million 9.75% reverse convertibles linked to Diamond Offshore
By Angela McDaniels
Seattle, March 30 - Credit Suisse (USA) Inc. priced $1,223,000 of 9.75% reverse convertible securities due March 30, 2007 linked to Diamond Offshore Drilling Inc. common stock, according to a 424B2 filing with the Securities and Exchange Commission.
Issuer: | Credit Suisse (USA) Inc.
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Issue: | Reverse convertible securities
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Amount: | $1,223,000
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Underlying stock: | Diamond Offshore Drilling Inc.
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Maturity: | March 30, 2007
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Coupon: | 9.75%, payable quarterly
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Price: | Par
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Payout at maturity: | Par unless stock falls below knock-in price of $87.73 during the life of the notes and closes below its initial value on March 26, 2007; payout will then be 11.399 shares of Diamond Offshore stock
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Initial share price: | $87.73
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Trigger price: | $61.411, 70% of initial price
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Pricing date: | March 28
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Settlement date: | March 31
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Underwriter: | Credit Suisse
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