By Laura Lutz
Des Moines, Jan. 23 - Credit Suisse, Nassau branch priced $391,000 of 21.5% annualized reverse convertible securities due April 25, 2008 linked to the common stock of Apple Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Interest will be payable monthly.
If Apple stock falls below the knock-in price - 80% of the initial price - during the life of the notes and finishes below its initial price, the payout at maturity will be a number of Apple shares equal to par divided by the initial share price.
Otherwise, the payout will be par.
Credit Suisse Securities (USA) LLC is the underwriter.
| Issuer: | Credit Suisse, Nassau branch
|
| Issue: | Reverse convertible securities
|
| Underlying stock: | Apple Inc. (NYSE: SLB)
|
| Amount: | $391,000
|
| Maturity: | April 25, 2008
|
| Coupon: | 21.5%, payable monthly
|
| Price: | Par
|
| Payout at maturity: | Par unless Apple stock falls below the knock-in price during the life the notes and finishes below its initial price, in which case payout will be a number of shares equal to par divided by the initial share price
|
| Initial price: | $161.36
|
| Knock-in price: | $129.09, 80% of $161.36
|
| Pricing date: | Jan. 18
|
| Settlement date: | Jan. 25
|
| Underwriter: | Credit Suisse Securities (USA) LLC
|
| Distributor: | FIS
|
| Fees: | 1.25%
|
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