By Laura Lutz
Des Moines, Feb. 27 - Credit Suisse, Nassau branch priced $275,000 of 10.5% annualized reverse convertible securities due May 29, 2008 linked to the American Depositary Receipts representing preferred shares of Banco Itau Holding Financeira SA, according to a 424B2 filing with the Securities and Exchange Commission.
Interest will be payable monthly.
If Banco Itau ADRs fall below the knock-in price - 70% of the initial price - during the life of the notes and finish below its initial price, the payout at maturity will be a number of Banco Itau ADRs equal to par divided by the initial price.
Otherwise, the payout will be par.
Credit Suisse Securities (USA) LLC is the underwriter.
| Issuer: | Credit Suisse, Nassau branch
|
| Issue: | Reverse convertible securities
|
| Underlying asset: | Banco Itau Holding Financeira SA American Depositary Receipts (NYSE: ITU)
|
| Amount: | $275,000
|
| Maturity: | May 29, 2008
|
| Coupon: | 10.5%, payable monthly
|
| Price: | Par
|
| Payout at maturity: | Par unless Banco Itau ADRs fall below the knock-in price during the life the notes and finish below its initial price, in which case payout will be a number of ADRs equal to par divided by the initial price
|
| Initial price: | $25.16
|
| Knock-in price: | 70% of $25.16
|
| Pricing date: | Feb. 25
|
| Settlement date: | Feb. 29
|
| Underwriter: | Credit Suisse Securities (USA) LLC
|
| Distributor: | FIS
|
| Fees: | 1.25%
|
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