Credit Suisse to sell 13.1% reverse convertibles linked to Western Digital

By Angela McDaniels

Seattle, March 8 - Credit Suisse (USA) Inc. plans to sell an issue of 13.1% reverse convertible securities due March 30, 2007 linked to Western Digital Inc. common stock, according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be par unless Western Digital stock falls below the knock-in level of 80% of its initial price during the life of the notes.

If the trigger is hit, payout at maturity will be par in cash if Western Digital stock closes above its initial price on March 26, 2007, the valuation date. Otherwise, payout is a number of Western Digital shares equal to par of $1,000 divided by the initial price.

Credit Suisse will be underwriter for the issue.

Settlement is expected on or about March 31.

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