New Issue: Credit Suisse prices $525,000 11.5% reverse convertibles linked to Owens-Illinois

By Angela McDaniels

Tacoma, Wash., March 26- Credit Suisse, Nassau branch priced $525,000 of Z series reverse convertible securities due June 30, 2008 linked to the common stock of Owens-Illinois, Inc., according to a 424B2 filing with the Securities and Exchange Commission.

The three-month notes will pay 2.875% for an annualized rate of 11.5%. Interest is payable monthly.

The payout at maturity will be par unless Owens-Illinois stock closes below the knock-in price - 80% of the initial share price - during the life of the notes and the final share price is less than the initial share price, in which case the payout will be a number of Owens-Illinois shares equal to $1,000 divided by the initial share price.

Credit Suisse Securities (USA) LLC is the underwriter.

Issuer:	Credit Suisse, Nassau branch
Issue:	Z series reverse convertible securities
Underlying stock:	Owens-Illinois, Inc. (NYSE: OI)
Amount:	$525,000
Maturity:	June 30, 2008
Coupon:	11.5%, payable monthly
Price:	Par
Payout at maturity:	If Owens-Illinois stock falls below the knock-in price during the life of the notes and finishes below the initial share price, 17.86352 Owens-Illinois shares; otherwise, par
Initial share price:	$55.98
Knock-in price:	$44.784, 80% of initial share price
Pricing date:	March 24
Settlement date:	March 28
Underwriter:	Credit Suisse Securities (USA) LLC
Fees:	2%

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