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Credit Suisse to price 19.25% reverse convertibles linked to Lehman Brothers
By Jennifer Chiou
New York, March 13 - Credit Suisse, Nassau branch plans to price 19.25% annualized select method reverse convertible securities due June 30, 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 - 65% 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 March.
Credit Suisse Securities (USA) LLC is the underwriter.
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