New Issue: Credit Suisse prices $3.175 million 12.75% notes linked to Smith & Wesson

By Angela McDaniels

Seattle, Feb. 27 - Credit Suisse (USA), Inc. priced a $3.175 million offering of reverse convertible securities due Aug. 31, 2007 linked to the common stock of Smith & Wesson Holding Corp., according to a 424B2 filing with the Securities and Exchange Commission.

The six-month securities will pay 6.375% for an annualized rate of 12.75%. Interest is payable quarterly.

The payout at maturity will be par unless Smith & Wesson stock falls below the knock-in price of $8.4435 during the life of the securities and finishes below the initial share price of $12.99, 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 (USA), Inc.
Issue:	Reverse convertible securities
Underlying stock:	Smith & Wesson Holding Corp.
Amount:	$3.175 million
Maturity:	Aug. 31, 2007
Coupon:	12.75%, payable quarterly
Price:	Par
Payout at maturity:	If Smith & Wesson falls below the knock-in price during the life of the securities and finishes below the initial share price, 76.98229 Smith & Wesson shares; otherwise, par
Initial share price:	$12.99
Knock-in price:	$8.4435, 65% of $12.99
Pricing date:	Feb. 22
Settlement date:	Feb. 28
Underwriter:	Credit Suisse Securities (USA) LLC
Underwriting discount:	1.99%
Distributor:	FIS

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