By Angela McDaniels
Tacoma, Wash., Aug. 25 - Credit Suisse, Nassau Branch priced $27.51 million of 10% equity-linked notes due Sept. 2, 2010 linked to the common stock of Bristol-Myers Squibb Co., according to an FWP filing with the Securities and Exchange Commission.
Each note has a principal amount of $22.86, which is equal to the closing share price of Bristol-Myers Squibb stock on the pricing date.
Interest is payable monthly.
If the final share price is less than or equal to the lower put strike price, the payout at maturity will be 78.0533% of par. The lower put strike price is 85% of the initial price.
If the final share price is greater than the lower put strike price and less than the upper put strike price, the payout will be 91.8274% of the final share price. The upper put strike price is 108.9% of the initial price.
If the final share price is greater than or equal to the upper put strike price and less than the call strike price, the payout will be par. The call strike price is 125% of the initial price.
If the final price is greater than or equal to the call strike price, the payout will be par plus 65% of the amount by which the final price exceeds the call strike price.
The underwriter, who was not disclosed in the filing, was given a $2.51 million over-allotment option.
| Issuer: | Credit Suisse, Nassau Branch
|
| Issue: | Equity-linked notes
|
| Underlying stock: | Bristol-Myers Squibb Co.
|
| Amount: | $27,514,616
|
| Greenshoe: | $2,514,600
|
| Maturity: | Sept. 2, 2010
|
| Coupon: | 10%, payable monthly
|
| Price: | Par of $22.86
|
| Payout at maturity: | If final share price is 85% of initial price or less, 78.0533% of par; if final share price is at least 85% of initial price and less than 108.9% of initial price, 91.8274% of the final share price; if final share price is at least 108.9% of initial price and less than 125% of initial price, par; otherwise, par plus 65% of amount by which final price exceeds 125% of the initial price
|
| Initial share price: | $22.86
|
| Pricing date: | Aug. 25
|
| Settlement date: | Sept. 1
|
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