Credit Suisse to sell 17.75% reverse convertibles linked to Nutri/System

By Jennifer Chiou

New York, July 10 - Credit Suisse (USA), Inc. plans to sell an offering of 17.75% reverse convertible securities due July 31, 2007 linked to Nutri/System, Inc. stock, according to a 424B2 filing with the Securities and Exchange Commission.

Interest will be payable quarterly.

The payout at maturity will be par unless Nutri/System stock falls below the knock-in level of 50% of its initial price during the life of the notes.

If the trigger is hit, payout will be par in cash if Nutri/System stock closes above its initial price on the valuation date. Otherwise, the payout will be a number of Nutri/System shares equal to par of $1,000 divided by the initial price.

The notes will price on July 25.

Credit Suisse will be the underwriter.

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