Published on 10/29/2007 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse upsizes 10% reverse convertibles linked to PG&E to $3.45 million
By Susanna Moon
Chicago, Oct. 29 - Credit Suisse, Nassau branch issued a total of $3.45 million of 10% reverse convertible securities due May 5, 2008 linked to PG&E Corp. stock, upsized from $3 million priced on Oct. 26, according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable monthly.
The payout at maturity will be par unless the stock falls below the knock-in price of $39.00 - 83% of the initial value - during the life of the notes and finishes below its initial price of $46.99, in which case the payout will be a number of PG&E shares equal to $1,000 divided by the initial share price.
Credit Suisse Securities (USA) LLC is the underwriter.
Issuer: | Credit Suisse, Nassau branch
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Issue: | Reverse convertible securities
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Underlying stock: | PG&E Corp. (NYSE: PCG)
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Amount: | $3.45 million (upsized from $3 million on Oct. 26)
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Maturity: | May 5, 2008
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Coupon: | 10%, payable monthly
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Price: | Par
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Payout at maturity: | Par unless PG&E stock falls below the knock-in price during the life of the notes and finishes below its initial price, in which case payout will be a number of shares equal to $1,000 divided by the initial share price
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Initial share price: | $46.99
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Knock-in price: | $39.00, or 83% of $46.99
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Pricing date: | Oct. 25
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Settlement date: | Nov. 5
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Underwriter: | Credit Suisse Securities (USA) LLC
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Distributor: | FIS
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Fees: | 2.3%
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