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Credit Suisse to sell 11.3% reverse convertibles linked to F5 Networks
By Angela McDaniels
Seattle, April 7 - Credit Suisse (USA), Inc. plans to sell an offering of 11.3% reverse convertible securities due April 27, 2007 linked to F5 Networks Inc. common stock, according to a 424B2 filing with the Securities and Exchange Commission.
Interest will be payable quarterly.
The payout at maturity will be par unless F5 Networks stock falls below the knock-in level of 70% of its initial price during the life of the notes.
If the trigger is hit, payout will be par in cash if F5 Networks' stock closes above its initial price on the valuation date of April 23, 2007. Otherwise, payout will be a number of F5 Networks shares equal to par of $1,000 divided by the initial price.
Credit Suisse will be the underwriter of the issue. Settlement is expected on April 28.
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