Credit Suisse to price 12% reverse convertibles linked to CVRD

By Angela McDaniels

Seattle, June 12 - Credit Suisse, Nassau branch plans to price 12% reverse convertible securities due June 27, 2008 linked to American Depositary Receipts representing the common stock of Companhia Vale do Rio Doce (CVRD), according to a 424B2 filing with the Securities and Exchange Commission.

Interest will be payable monthly.

The payout at maturity will be par unless Companhia Vale do Rio Doce's ADRs close below the knock-in level - 80% of the initial ADR price - during the life of the notes and finish below the initial ADR price, in which case the payout will be a number of ADRs equal to $1,000 divided by the initial ADR price.

The notes are expected to price and settle in June.

Credit Suisse Securities (USA) LLC will be the underwriter.

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