Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers C > Headlines for Credit Suisse (USA), Inc. > News item |
Credit Suisse to sell 8.5% reverse convertibles linked to Lowe's
By Jennifer Chiou
New York, Aug. 7 - Credit Suisse (USA), Inc. plans to sell an offering of 8.5% reverse convertible securities due Aug. 31, 2007 linked to Lowe's Cos., Inc. stock, according to a 424B2 filing with the Securities and Exchange Commission.
Interest will be payable quarterly.
The payout at maturity will be par unless Lowe's 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 will be par in cash if Lowe's stock closes above its initial price on the valuation date of Aug. 27, 2007. Otherwise, the payout will be a number of Lowe's shares equal to par of $1,000 divided by the initial price.
Credit Suisse will be 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.