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Credit Suisse extends term of 20%-24% reverse convertibles offering linked to Lehman Brothers
By Susanna Moon
Chicago, Jan. 14 - Credit Suisse, Nassau branch extended the term of its planned offering of 20% to 24% reverse convertible notes to July 30, 2008 linked to Lehman Brothers Holdings Inc. common stock, according to a 424B2 filing with the Securities and Exchange Commission.
As previously reported, the notes were originally offered with a maturity of July 18, 2008.
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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