New Issue: Credit Suisse sells $1.324 million 15.75% reverse convertibles linked to NYSE Group

By Jennifer Chiou

New York, July 28 - Credit Suisse (USA), Inc. priced a $1.324 million offering of 15.75% reverse convertible securities due July 31, 2007 linked to NYSE Group, Inc. stock, according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be par unless NYSE Group stock falls below the knock-in level of $43.288, 70% of its initial price of $61.84, during the life of the notes.

If the trigger is hit, payout will be par in cash if NYSE Group stock closes above its initial price on the valuation date of July 25, 2007. Otherwise, the payout will be a number of NYSE Group shares equal to par of $1,000 divided by the initial price.

Issuer:	Credit Suisse (USA) Inc.
Issue:	Reverse convertible securities
Amount:	$1.324 million
Underlying stock:	NYSE Group, Inc.
Maturity:	July 31, 2007
Coupon:	15.75%, payable quarterly
Price:	Par
Payout at maturity:	Par unless stock falls below knock-in price of $43.288 during the life of the notes and closes below its initial value on July 25, 2007, payout will then be par of $1,000 divided by $61.84 shares of NYSE Group stock
Initial share price:	$61.84
Knock-in price:	$43.288, 70% of initial price
Pricing date:	July 26
Settlement date:	July 31
Underwriter:	Credit Suisse

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