Credit Suisse plans 10% reverse convertibles linked to Sotheby's via FIS

By Jennifer Chiou

New York, Feb. 5 - Credit Suisse (USA), Inc. plans to price an issue of 10% reverse convertible notes due Feb. 27, 2008 linked to Sotheby's stock via distributor Fixed Income Securities, according to a 424B2 filing with the Securities and Exchange Commission.

Interest will be payable quarterly.

Payout at maturity will be par in cash unless Sotheby's stock hits the knock-in level - 70% of the initial price - during the life of the notes and finishes below the initial price, in which case the payout will be a number of Sotheby's shares equal to $1,000 divided by the initial price.

Credit Suisse is the underwriter.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.