Credit Suisse to price 20% to 24% reverse convertibles linked to Lehman Brothers

By Susanna Moon

Chicago, Jan. 11 - Credit Suisse, Nassau branch plans to price 20% to 24% reverse convertible notes due July 18, 2008 linked to Lehman Brothers Holdings Inc. common stock, according to a 424B2 filing with the Securities and Exchange Commission.

Interest will be payable monthly.

The payout at maturity will be par unless Lehman Brothers stock falls below the knock-in price - 70% of the initial share price - during the life of the notes and finishes below the initial share price, in which case the payout will be a number of Lehman Brothers shares equal to $1,000 divided by the initial share price.

The issue is expected to price and settle in January.

Credit Suisse is the agent.

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