New Issue: Credit Suisse sells $0.127 million 12.25% reverse convertibles linked to Swift Transportation

By Jennifer Chiou

New York, July 28 - Credit Suisse (USA), Inc. priced a $0.127 million offering of 12.25% reverse convertible securities due July 31, 2007 linked to Swift Transportation Co., Inc. stock, according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be par unless Swift Transportation stock falls below the knock-in level of $20.872, 80% of its initial price of $26.09, during the life of the notes.

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

Issuer:	Credit Suisse (USA) Inc.
Issue:	Reverse convertible securities
Amount:	$0.127 million
Underlying stock:	Swift Transportation Co., Inc.
Maturity:	July 31, 2007
Coupon:	12.25%, payable quarterly
Price:	Par
Payout at maturity:	Par unless stock falls below knock-in price of $20.872 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 $26.09 shares of Swift Transportation stock
Initial share price:	$26.09
Knock-in price:	$20.872, 80% of initial price
Pricing date:	July 26
Settlement date:	July 31
Underwriter:	Credit Suisse

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