New Issue: Credit Suisse sells $2 million 15.125% reverse convertibles linked to Smith & Wesson

By Laura Lutz

Iowa City, Jan. 22 - Credit Suisse (USA), Inc. priced $2 million of 15.125% reverse convertible securities due Jan. 24, 2008 linked to Smith & Wesson Holding Corp. stock, according to a 424B2 filing with the Securities and Exchange Commission.

Payout at maturity will be par unless Smith & Wesson stock falls below the knock-in price of $7.15 - 65% of the initial share price - during the life of the notes and finishes below its initial price of $11.00 on Dec. 21, 2007, the valuation date, in which case the payout will be a number of Smith & Wesson shares equal to $1,000 divided by the initial share price.

Issuer:	Credit Suisse Securities (USA), Inc.
Issue:	Reverse convertible securities
Underlying stock:	Smith & Wesson Holding Corp.
Amount:	$2 million
Maturity:	Jan. 24, 2008
Coupon:	15.125%, payable quarterly
Price:	Par
Payout at maturity:	Par unless Smith & Wesson stock falls below the knock-in price of $7.15 during the life of the notes and finishes below its initial share price, in which case payout will be 90.909 shares of Smith & Wesson stock
Initial share price:	$11.00
Knock-in price:	$7.15, 65% of $11.00
Pricing date:	Jan. 19
Settlement date:	Jan. 25
Agent:	Credit Suisse Securities (USA) LLC
Agent's fee:	2.8%

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