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Credit Suisse to sell 15.75% reverse convertibles linked to NYSE Group
By Jennifer Chiou
New York, July 10 - Credit Suisse (USA), Inc. plans to sell an offering of 15.75% reverse convertible securities due July 31, 2007 linked to NYSE Group, Inc. 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 NYSE Group 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 NYSE Group stock closes above its initial price on the valuation date. Otherwise, the payout will be a number of NYSE Group shares equal to par of $1,000 divided by the initial price.
Credit Suisse will be the underwriter.
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