Exhibit 4.01


 


[FACE OF NOTE]


 


Unless this certificate is presented by an authorized
representative of The Depository Trust Company (55 Water Street, New York, New
York) to the issuer or its agent for registration of transfer, exchange or
payment, and any certificate issued is registered in the name of Cede & Co.
or such other name as requested by an authorized representative of The
Depository Trust Company and any payment is made to Cede & Co., ANY
TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON
IS WRONGFUL since the registered owner hereof, Cede & Co., has an interest
herein.


 


	
  REGISTERED

  

  

  NO. 1

  	
   

  	
  CUSIP: 225434 AN 9

  

  PRINCIPAL AMOUNT: $ 3,090,000

  



 


	
  CREDIT SUISSE
  (USA), INC.

  Reverse Convertible Securities Linked to the Performance of Archer Daniels
  Midland Company

   

  due March 30,
  2007

  



 


CREDIT SUISSE (USA), INC., a Delaware corporation (the
“Company”, which term includes any successor corporation under the Indenture
hereinafter referred to), for value received, hereby promises to pay to Cede
& Co., or registered assigns, at the office or agency of the Company in New
York, New York, the Redemption Amount (as defined on the reverse hereof) on the
Maturity Date (as defined on the reverse hereof), in the coin or currency of
the United States and to pay a coupon of 9.0% per annum on the
principal amount from March 31, 2006. The coupon payment will be payable
quarterly in arrears on June 30, 2006, September 29, 2006, December 29, 2006,
and March 30, 2007.


 


Reference is hereby made to the further provisions of
this Note set forth on the reverse hereof, which further provisions shall for
all purposes have the same effect as if set forth at this place.


 


This Note shall not be valid or become obligatory for
any purpose until the certificate of authentication hereon shall have been
manually signed by the Trustee under the Indenture referred to on the reverse
hereof.


 


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IN
WITNESS WHEREOF, the Company has caused this Note to be duly executed under its
corporate seal.


 


	
   

  	
  CREDIT SUISSE (USA), INC.

  
	
   

  	
   

  
	
   

  	
   

  
	
  [SEAL]

  	
  By:

  	
      /s/ Peter Feeney

  	
   

  
	
   

  	
   

  	
  Name: Peter Feeney

  
	
   

  	
   

  	
  Title: Authorized Signatory

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  CREDIT SUISSE (USA), INC.

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
      /s/ Simon Yates

  	
   

  
	
   

  	
   

  	
  Name: Simon Yates

  
	
   

  	
   

  	
  Title: Authorized Signatory

  
						



 


 


CERTIFICATE OF AUTHENTICATION


 


This is one of the Securities of the series designated
therein referred to in the within-mentioned Indenture.


 


	
  Dated: March 31, 2006

  	
   

  
	
   

  	
   

  
	
   

  	
  JPMORGAN CHASE, N.A.,

  
	
   

  	
  as Trustee

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
      /s/ Ignazio Tamburello

  	
   

  
	
   

  	
   

  	
  Authorized Signatory

  



 


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[REVERSE OF NOTE]


 


CREDIT SUISSE
(USA), INC.

Reverse Convertible Securities Linked to the Performance of Archer Daniels
Midland Company


due March 30, 2007


 


This Note is one of a
duly authorized issue of debentures, notes, bonds or other evidences of
indebtedness of the Company (the “Securities”) of the series hereinafter
specified, all issued or to be issued under and pursuant to a senior indenture,
dated as of June 1, 2001 (the “Indenture”), between the Company and JPMorgan
Chase Bank, as trustee (the “Trustee”), to which Indenture and all indentures
supplemental thereto reference is hereby made for a description of the rights,
limitations of rights, obligations, duties and immunities thereunder of the
Trustee, the Company, and the Holders of the Securities. The Securities may be
issued in one or more series, which different series may be issued in various
aggregate principal amounts, may mature at different times, may bear interest
(if any) at different rates, may be subject to different redemption provisions
(if any), may be subject to different sinking, purchase or analogous funds (if
any) and may otherwise vary as provided in the Indenture. This Note is one of a
series designated as the Reverse Convertible Securities Linked to the
Performance of Archer Daniels Midland Company, due March 30, 2007 (the “Note”).


 


A coupon will be payable on this Note of
9.0% per annum on the principal amount from March 31, 2006. The coupon payment
will be payable quarterly in arrears on June 30, 2006, September 29, 2006,
December 29, 2006, and March 30, 2007. 


 


This Note is payable in the manner, with the effect
and subject to the conditions provided in the Indenture.


 


If a payment date is not a business day as defined in
the Indenture at a place of payment, payment may be made at that place on the
next succeeding day that is a business day, and no interest shall accrue for
the intervening period.


 


The Indenture provides that, without prior notice to
any Holders, the Company and the Trustee may amend the Indenture and the
Securities of any series with the written consent of the Holders of a majority
in principal amount of the outstanding Securities of all series affected by
such amendment (all such series voting as one class), and the Holders of a
majority in principal amount of the outstanding Securities of all series
affected thereby (all such series voting as one class) may waive future
compliance by the Company with any provision of the Indenture or the Securities
of such series by written notice to the Trustee; provided that, without the
consent of each Holder of the Securities of each series affected thereby, an
amendment or waiver, including a waiver of past defaults, may not: (i) extend
the stated maturity of the Principal of, or any sinking fund obligation or any
installment of interest on, such Holder’s Security, or reduce the principal
amount thereof or the rate of interest thereon (including any amount in respect
of original issue discount), or any premium payable with respect thereto, or
adversely affect the rights of such Holder under any mandatory redemption or
repurchase provision or any right of redemption or repurchase at the option of
such Holder, or reduce the amount of the Principal of an Original Issue
Discount Security that would be due and payable upon an acceleration of the
maturity thereof or the amount thereof provable in bankruptcy, or 


 


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change any place of payment where, or the currency in which, any
Security of such series or any premium or the interest thereon is payable, or
impair the right to institute suit for the enforcement of any such payment on
or after the due date therefor; (ii) reduce the percentage in principal amount
of outstanding Securities of the relevant series the consent of whose Holders
is required for any such supplemental indenture, for any waiver of compliance
with certain provisions of the Indenture or certain Defaults and their
consequences provided for in the Indenture; (iii) waive a Default in the
payment of Principal of or interest on any Security of such Holder; or (iv)
modify any of the provisions of the Indenture governing supplemental indentures
with the consent of Securityholders except to increase any such percentage or
to provide that certain other provisions of the Indenture cannot be modified or
waived without the consent of the Holder of each outstanding Security affected
thereby.


 


The Indenture provides that, subject to certain conditions,
the Holders of at least a majority in principal amount (or, if any Securities
are Original Issue Discount Securities, such portion of the Principal as is
then accelerable) of the outstanding Securities of all series affected (voting
as a single class), by notice to the Trustee, may waive an existing Default or
Event of Default with respect to the Securities of such series and its
consequences, except a Default in the payment of Principal of or interest on
any Security or in respect of a covenant or provision of the Indenture which
cannot be modified or amended without the consent of the Holder of each
outstanding Security affected. Upon any such waiver, such Default shall cease
to exist, and any Event of Default with respect to the Securities of such series
arising therefrom shall be deemed to have been cured, for every purpose of the
Indenture; but no such waiver shall extend to any subsequent or other Default
or Event of Default or impair any right consequent thereto.


 


The Indenture provides that a series of Securities may
include one or more tranches (each a “tranche”) of Securities, including
Securities issued in a Periodic Offering. The Securities of different tranches
may have one or more different terms, including authentication dates and public
offering prices, but all the Securities within each such tranche shall have
identical terms, including authentication date and public offering price. Notwithstanding
any other provision of the Indenture, subject to certain exceptions, with
respect to sections of the Indenture concerning the execution, authentication
and terms of the Securities, redemption of the Securities, Events of Default of
the Securities, defeasance of the Securities and amendment of the Indenture, if
any series of Securities includes more than one tranche, all provisions of such
sections applicable to any series of Securities shall be deemed equally
applicable to each tranche of any series of Securities in the same manner as
though originally designated a series unless otherwise provided with respect to
such series or tranche pursuant to a board resolution or a supplemental
indenture establishing such series or tranche.


 


No reference herein to the Indenture and no provision
of this Note or of the Indenture shall alter or impair the obligation of the
Company, which is absolute and unconditional, to pay the Redemption Amount of
this Note in the manner, at the place, at the time and in the coin or currency
herein prescribed.


 


The Securities are issuable initially only in
registered form without coupons in denominations of $5,000 and any integral
multiples of $1,000 in excess of that amount at the office or agency of the
Company in the Borough of Manhattan, The City of New York, and in the manner
and subject to the limitations provided in the Indenture.


 


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The Securities will not be redeemable at the option of
the Company prior to maturity.


 


The Company will not be required to pay any Additional
Amounts on the Securities.


 


Maturity Date


 


The Maturity Date of the Securities is March 30, 2007 (the “Maturity Date”);
however, if a market disruption event exists on the Valuation Date, as
determined by the Calculation Agent, the Maturity Date will be the later of
March 30, 2007, and the third business day following the date on which the
closing price for the reference shares is calculated.


 


Redemption Amount


 


The Company will redeem the Securities at maturity for
a redemption amount in cash that will be based on the performance of the
reference shares during the term of the Securities (the “redemption amount”):


 


(1)          If the closing price of
the reference shares on the New York Stock Exchange (the “relevant exchange”)
is not less than the knock-in level, which is 80% of the Initial Share Price,
on any day from but not including March 28, 2006, which is the initial setting
date, to and including March 26, 2007 (the “Valuation Date”), the redemption
amount will equal a cash payment equal to 100% of the principal amount of the
Securities.


 


(2)          If (i) the closing price
of the reference shares on the relevant exchange is less than the knock-in
level on any day from but not including March 28, 2006, which is the initial
setting date, to and including the Valuation Date and (ii) the closing price of
the reference shares on the relevant exchange on the Valuation Date, which we
refer to as the final share price, is greater than or equal to the Initial
Share Price, the redemption amount will equal a cash payment equal to 100% of
the principal amount of the Securities.


 


(3)          Otherwise, the
redemption amount will be the physical delivery amount. The physical delivery
amount will be the number of reference shares per $1,000 principal amount of
Securities equal to $1,000 divided by the Initial Share Price. The market value
of the physical delivery amount will be less than the principal amount of the
Securities and may be zero. 


 


The “Initial Share Price” is $34.53.


 


A “business day” means a day, other than a Saturday,
Sunday or a day on which banking institutions in New York, New York are
generally authorized or obligated by law, regulation or executive order to
close and that is also a Trading Day.


 


A “trading day” means any day, as determined by the
Calculation Agent, on which trading is generally conducted for reference shares
(or, but for the occurrence of a market disruption event, would have been
generally conducted) on the relevant exchange and for options 


 


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and
other derivative instruments on the reference shares on the Chicago Mercantile
Exchange and the Chicago Board Options Exchange, which we refer to collectively
as the related exchanges, other than a day on which the relevant exchange or
the related exchanges are scheduled to close prior to their regular weekday
closing time.


 


Market Disruption Events


 


If no final share price is available on the Valuation
Date because of a market disruption event, as determined by the Calculation
Agent in its sole discretion, the Calculation Agent may postpone the
calculation of the final share price until the earlier of the date such market
disruption event has ceased or three trading days after the Valuation Date, as
the case may be. On such third trading day, in the event there still exists a
market disruption event, the Calculation Agent will determine the final share
price using its good faith estimate of the value for the reference shares as of
the closing time on the relevant exchange on such date. If a market disruption
event exists on the Valuation Date, the Maturity Date of the Securities will be
the later of the original Maturity Date and the third business day following
the day on which the final share price is calculated. No interest will accrue
or other payment be payable because of any postponement of the Maturity Date.


 


A “market disruption event” means the occurrence or
existence of any suspension of or limitation imposed on trading (by reason of
movements in price exceeding limits permitted by any relevant exchange or
market or otherwise) of, or the unavailability, through a recognized system of
public dissemination of transaction information, of accurate price, volume or
related information in respect of (a) the reference shares or (b) any options
or futures contracts, or any options on such futures contracts, relating to the
reference shares if, in each case, in the determination of the Calculation
Agent, in its sole discretion, any such suspension, limitation or
unavailability is material.


 


For purposes of determining whether a market
disruption event has occurred:  (1) a
limitation on the hours or number of days of trading will not constitute a
market disruption event if it results from an announced change in the regular
business hours of the relevant exchange; (2) a decision permanently to
discontinue trading in the relevant options or futures contract will not
constitute a market disruption event; (3) limitations pursuant to New York
Stock Exchange Rule 80A—Index Arbitrage Trading Restrictions (or any applicable
rule or regulation enacted or promulgated by the New York Stock Exchange, any
other self-regulatory organization or the SEC of similar scope as determined by
the Calculation Agent) on trading during significant market fluctuations will
constitute a market disruption event; (4) a suspension of trading in an options
contract on the reference shares by the primary securities market trading in
such options, if available, by reason of (x) a price change exceeding limits
set by such securities exchange or market, (y) an imbalance of orders relating
to such contracts or (z) a disparity in bid and ask quotes relating to such
contracts will constitute a suspension or material limitation of trading in
options contracts related to the reference shares notwithstanding that such
suspension or material limitation is less than two hours; (5) a suspension,
absence or material limitation of trading on the primary securities market on
which options contracts related to the reference shares are traded will not
include any time when such securities market is itself closed for trading under
ordinary circumstances; and (6) a “suspension or material limitation” on an
exchange or in a market will include a suspension or material limitation of
trading by one class 


 


R-4

















 


of investors provided that such suspension continues for more than two
hours of trading or during the last one-half hour period preceding the close of
trading on the relevant exchange or market (but will not include limitations
imposed on certain types of trading under New York Stock Exchange Rule 80A or
any applicable rule or regulation enacted or promulgated by the New York Stock
Exchange, NASDAQ, any other self-regulatory organization or the SEC of a
similar scope or as a replacement for Rule 80A, as determined by the Calculation
Agent) and will not include any time when such exchange or market is closed for
trading as part of such exchange’s or market’s regularly scheduled business
hours.


 


Based on the information currently available to us, on
October 27, 1997, the New York Stock Exchange suspended all trading during the
one-half hour period preceding the close of trading pursuant to New York Stock
Exchange Rule 80B and, on each of September 11, 12, 13 and 14, 2001, the New
York Stock Exchange suspended all trading for the entire day due to certain
terrorist activity. If any such suspension of trading occurred during the term
of the Securities, it would constitute a market disruption event. The existence
or non-existence of these circumstances, however, is not necessarily indicative
of the likelihood of these circumstances arising or not arising in the future.


 


Antidilution Adjustments 


 


General


 


The Calculation Agent will
adjust the Initial Share Price and the physical delivery amount if certain
corporate actions and other events described below (each of which, an
“adjustment event”), occur, and the Calculation Agent determines that such
adjustment event has a diluting or concentrative effect on the theoretical
value of the reference shares. Set forth below are examples of how adjustment
events may lead to adjustments to the Initial Share Price and the physical
delivery amount.


 


Upon the occurrence of an
adjustment event that the Calculation Agent determines has a diluting or
concentrative effect on the theoretical value of the reference shares, for
purposes only of determining whether (i) the price of the reference shares is
less than or equal to the knock-in level and (ii) the final share price is less
than or equal to the Initial Share Price, the Calculation Agent will typically
adjust the Initial Share Price according to the following formula:


 





 


The physical delivery amount
will be adjusted by the Calculation Agent as set forth in the specific examples
below.


 


The adjustments described
below do not cover all events that could affect the value of the Securities.


 


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Adjustments


 


If an adjustment event occurs and the Calculation Agent
determines that the event has a diluting or concentrative effect on the
theoretical value of the reference shares, the Calculation Agent will calculate
a corresponding adjustment to the Initial Share Price and the physical delivery
amount as the Calculation Agent determines appropriate to account for that
diluting or concentrative effect. The Calculation Agent will also determine the
effective date of that adjustment, and the replacement of the reference shares,
if applicable, in the event of consolidation or merger. Upon making any such
adjustment, the Calculation Agent will give notice as soon as practicable to
the Trustee, stating the adjustment of the Initial Share Price and physical
delivery amount.


 


If more than one adjustment event occurs, the Calculation
Agent will make an adjustment for each such adjustment event in the order in
which they occur, and on a cumulative basis. Accordingly, having adjusted the
Initial Share Price and the physical delivery amount for the first such
adjustment event, the Calculation Agent will adjust the Initial Share Price and
the physical delivery amount for the second adjustment event, applying the
required adjustment to the Initial Share Price and the physical delivery amount
as already adjusted for the first adjustment event, and so on for each
subsequent adjustment event.


 


The Calculation Agent will not have to adjust the Initial
Share Price and the physical delivery amount for any adjustment event unless the adjustment would result in a
change to the Initial Share Price or the physical delivery amount of at least
0.1% in the Initial Share Price or the physical delivery amount that would
apply without the adjustment. The Initial Share Price and the physical delivery
amount resulting from any adjustment would be rounded up or down, as
appropriate, to, in the case of the Initial Share Price, the nearest cent, and,
in the case of the physical delivery amount, the nearest thousandth, with
one-half cent and five ten-thousandths, respectively, being rounded upwards.


 


If an adjustment event requiring antidilution adjustment
occurs, the Calculation Agent will make any adjustments with a view to
offsetting, to the extent practical, any change in the Holders’ economic
position relative to the Securities that results solely from that event. The
Calculation Agent may, in its sole discretion, modify any antidilution adjustments
as necessary to ensure an equitable result.


 


The Calculation Agent has sole discretion in making all
determinations with respect to antidilution adjustments, including any
determination as to whether an adjustment event requiring an antidilution
adjustment has occurred, as to the nature of the adjustment required and how it
will be made. In the absence of manifest error, those determinations will be
conclusive for all purposes and will be binding on the Holders and the Company,
without any liability on the part of the Calculation Agent. Upon written
request, the Calculation Agent will provide information about any adjustments
it makes.


 


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Events requiring an antidilution
adjustment


 


The following is a list of adjustment events that may
require an antidilution adjustment:


 


(a)                                  a subdivision, consolidation
or reclassification of the reference shares or a free distribution or dividend
of any reference shares to existing holders of reference shares by way of bonus,
capitalization or similar issue;


 


(b)                                 a dividend or other
distribution to existing holders of reference shares of (i) the reference
shares, (ii) other share capital or securities granting the right to payment of
dividends equally or proportionately with such payments to holders of the
reference shares or (iii) any other type of securities, rights or warrants in
any case for payment (in cash or otherwise) at less than the prevailing market
price as determined by the Calculation Agent;


 


(c)                                  the declaration by the
issuer of the reference shares of an extraordinary or special dividend or other
distribution whether in cash or reference shares or other assets;


 


(d)                                 a repurchase of its common
stock by the issuer of the reference shares whether out of profits or capital
and whether the consideration for such repurchase is cash, securities or
otherwise;


 


(e)                                  a consolidation of the
issuer of the reference shares with another company or merger of the issuer of
the reference shares with another company; and


 


(f)                                    any other similar event that
may have a diluting or concentrative effect on the theoretical value of the
reference shares.


 


Certain adjustment events are discussed in
greater detail below.


 


Stock splits


 


A stock split is an increase
in the number of a corporation’s outstanding shares of stock without any change
in its stockholders’ equity. As a result of a stock split, each outstanding
share will be worth less.


 


If the reference shares are subject to a stock split, the
Calculation Agent will adjust the physical delivery amount to equal the sum of
the prior physical delivery amount—i.e., the physical delivery amount before
that adjustment—and the product of (i) the number of additional shares issued
in the stock split with respect to each of the reference shares times (ii) the
prior physical delivery amount.


 


Reverse stock splits


 


A reverse stock split is a decrease in the number of a
corporation’s outstanding shares of stock without any change in its
stockholders’ equity. As a result of a reverse stock split, each outstanding
share will be worth more.


 


If the reference shares are subject to a reverse stock
split, the Calculation Agent will adjust the physical delivery amount to equal
the product of the prior physical delivery amount and the quotient of (i) the number
of reference shares outstanding immediately after the reverse 


 


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stock split becomes
effective divided by (ii) the number of reference shares outstanding
immediately before the reverse stock split becomes effective. 


 


Stock dividends


 


In a stock dividend, a corporation issues additional shares
of its stock to all holders of its outstanding stock in proportion to the
shares they own. As a result of a stock dividend, each outstanding share will
be worth less.


 


If the reference shares are subject to a stock dividend
payable in the reference shares, then the Calculation Agent will adjust the
physical delivery amount to equal the sum of the prior physical delivery amount
and the product of (i) the number of additional shares issued in the stock
dividend with respect to each of the reference shares times (ii) the prior
physical delivery amount.


 


Other dividends and distributions


 


If the issuer of the reference shares declares a dividend
to be distributed to holders of record of the reference shares as of a date
falling in the period that begins on the day immediately following the
Valuation Date and ends on the day immediately prior to the Maturity Date, any
such dividend will not be paid to Holders.


 


The physical delivery amount will not be adjusted to
reflect any dividends or distributions paid with respect to the reference
shares, other than (i) stock dividends described above; (ii) issuances of
transferable rights and warrants as described in “—Transferable rights and
warrants” below; and (iii) extraordinary dividends as described below.


 


A dividend or other distribution with respect to the
reference shares will be deemed to be an “extraordinary dividend” if its per
share value exceeds that of the immediately preceding non-extraordinary
dividend, if any, for the reference shares by an amount equal to at least
10.00% of the market price of the reference shares on the business day before
the extraordinary dividend date. The ex dividend date for any dividend or other
distribution is the first day on which the reference shares trade without the
right to receive that dividend or distribution. If an extraordinary dividend
occurs, the Calculation Agent will adjust the physical delivery amount to equal
the product of (1) the prior physical delivery amount times (2) a fraction, the
numerator of which is the market price of the reference shares on the business
day before the ex dividend date and the denominator of which is the amount by
which that market price exceeds the extraordinary dividend adjustment amount. The
“extraordinary dividend adjustment amount” with respect to an extraordinary
dividend for the reference shares equals: 
(i) for an extraordinary dividend that is paid in lieu of a regular
quarterly dividend, the amount of the extraordinary dividend per share of the
reference shares minus the amount per share of the immediately preceding
dividend, if any, that was not an extraordinary dividend for the reference
shares, or (ii) for an extraordinary dividend that is not paid in lieu of a
regular quarterly dividend, the amount per share of the extraordinary dividend.


 


To the extent an extraordinary dividend is not paid in
cash, the value of the non-cash component will be determined by the Calculation
Agent. A distribution on the reference shares that is a dividend payable in the
reference shares, an issuance of rights or warrants or a spin-off 


 


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event and that is also an
extraordinary dividend will result in an adjustment to the physical delivery
amount only as described in “Stock dividends” above, “Transferable rights and
warrants” below or “Reorganization events” below, as the case may be, and not
as described here.


 


Transferable rights and warrants


 


If the issuer of the reference shares issues transferable
rights or warrants to all holders of the reference shares to subscribe for or
purchase the reference shares at an exercise price per share that is less than
the market price of the reference shares on the business day before the
extraordinary dividend date for the issuance, then the physical delivery amount
will be adjusted by multiplying the prior physical delivery amount by the
following fraction:  (i) the numerator
will be the sum of the number of reference shares outstanding at the close of
business on the day before that ex dividend date and the total number of
additional reference shares offered for subscription or purchase under those
transferable rights or warrants, and (ii) the denominator will be the sum of
the number of reference shares outstanding at the close of business on the day
before that ex dividend date and the product of (1) the total number of
additional reference shares offered for subscription or purchase under the
transferable rights or warrants times (2) the exercise price of those
transferable rights or warrants divided by the market price on the business day
before that extraordinary dividend date.


 


Reorganization events


 


Each of the following may be a reorganization event:  (i) the reference shares are reclassified or
changed; (ii) the issuer of the reference shares has been subject to a merger,
consolidation or other combination and either is not the surviving entity or is
the surviving entity but all outstanding reference shares are exchanged for or
converted into other property; (iii) a statutory share exchange involving
outstanding reference shares and the securities of another entity occurs, other
than as part of an event described above; (iv) the issuer of the reference
shares effects a spin-off (i.e., issues to all holders of reference shares
common stock equity securities of another issuer) other than as part of an
event described above; (v) the issuer of the reference shares sells or
otherwise transfers its property and assets as an entirety or substantially as
an entirety to another entity (each of the events in clauses (i) through (v)
above, a “merger event”); (vi) a takeover offer, tender offer, exchange offer,
solicitation, proposal or other event by any entity or person that results in
such entity or person purchasing, or otherwise obtaining or having the right to
obtain, by conversion or other means, not less than a majority of the
outstanding voting reference shares as determined by the Calculation Agent,
based upon the making of filings with governmental or self-regulatory agencies
or such other information as the Calculation Agent deems relevant, which we
refer to as a tender offer; (vii) the exchange on which the reference shares
trade announces that pursuant to the rules of such exchange, the reference
shares cease (or will cease) to be listed, traded or publicly quoted on it for
any reason (other than a merger event or tender offer) and are not immediately
re-listed, re-traded or re-quoted on another major U.S. exchange or quotation
system (a “delisting event”); and (viii) the issuer of the reference shares is
liquidated, dissolved or wound up or is subject to a proceeding under any
applicable bankruptcy, insolvency or other similar law (each, an “insolvency
event”).


 


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Adjustments for reorganization events


 


If a merger event occurs and a holder of the reference
shares that makes no election, vote or decision in connection with such merger
event would receive as full or partial consideration ordinary or common shares
of any person (other than the issuer of the reference shares) that are publicly
quoted, traded or listed on any major U.S. exchange or quotation system (the
“new shares”), then the
Calculation Agent will adjust the physical delivery amount so as to consist of
the amount and type of property distributed in the reorganization event in
respect of the prior physical delivery amount. In this instance, if more than
one type of property is distributed, the physical delivery amount will be
adjusted so as to consist of each type of property distributed, in a
proportionate amount, so that the value of each type of property comprising the
new physical delivery amount as a percentage of the total value of the new
physical delivery amount equals the value of that type of property as a
percentage of the total value of all of the property distributed in the
reorganization event.


 


If a tender offer occurs, and the holder of the reference
shares can elect to receive new shares as full or partial consideration in
respect of such tender offer, then the Calculation Agent will adjust the
physical delivery amount in accordance with the preceding paragraph.


 


If a merger event occurs, and the consideration in respect
of such event does not consist in full or in part of new shares (or in the case
of a tender offer, a holder of the reference shares would not be able to elect
to receive in full or in part any new shares as consideration in respect of
such tender offer), then the Calculation Agent will accelerate the Maturity
Date to the day which is four business days after the approval date (as defined
below). The amount payable at maturity will be determined as described below
under “Events of default and acceleration.” 
The approval date is the closing date of a merger event or, in the case
of a tender offer, the date on which the person or entity making the tender
offer acquires or acquires the right to obtain the relevant percentage of
reference shares. 


 


If a delisting event or an insolvency event occurs, the
Calculation Agent will accelerate the Maturity Date to the day which is four
business days after the announcement date (as defined below). On the Maturity
Date, the Company will pay to each Holder the physical delivery amount and for
the purposes of such calculation, the final share price will be deemed to be
the closing price of the reference shares on the business day immediately prior
to the announcement date. The announcement date means, in the case of a
delisting event, the day of the first public announcement by the relevant
exchange that the reference shares will cease to trade or be publicly quoted on
such exchange, or, in the case of an insolvency event, the day of the first
public announcement of the institution of a proceeding or presentation of a
petition or passing of a resolution (or other analogous procedure in any
jurisdiction) that leads to an insolvency event with respect to the issuer of
the reference shares.


 


If a merger event or tender offer occurs, coupon payment
amounts will accrue on the Securities through the approval date and be paid on
the accelerated Maturity Date. Such coupon payments will be calculated using a
360-day year comprised of twelve 30-day months. If a delisting event or an
insolvency event occurs, the Company will pay all remaining scheduled unpaid
coupon payments due to a Holder through the scheduled Maturity Date on the
accelerated Maturity Date.


 


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For the purposes of making an adjustment required by a
reorganization event, the Calculation Agent will determine the value of each
type of property distributed in the distribution, in its sole discretion. For
any property distributed consisting of new shares, the Calculation Agent will
use the closing price of the new shares on the approval date. The Calculation
Agent may value other types of property in any manner it determines, in its
sole discretion, to be appropriate. If a holder of the common stock of the
issuer of the reference shares elects to receive different types or
combinations of types of property in the reorganization event, such property
will consist of the types and amounts of each type distributed to a holder that
makes no election, as determined by the Calculation Agent.


 


If a reorganization event occurs and the Calculation Agent
adjusts the physical delivery amount to consist of the property distributed in
the reorganization event as described above, the Calculation Agent will make
further antidilution adjustments for later events that affect such property, or
any component of such property, comprising the new physical delivery amount. The
Calculation Agent will do so to the same extent that it would make adjustments
if the common stock of the issuer of the reference shares was outstanding and
was affected by the same kinds of events. If a subsequent reorganization event
affects only a particular component of the physical delivery amount, the
required adjustment will be made with respect to that component, as if it alone
were the physical delivery amount. For example, if the issuer of the reference
shares merges into another company and each share of its common stock is
converted into the right to receive two new shares of the surviving company and
a specified amount of cash, the physical delivery amount will be adjusted to
consist of two new shares and the specified amount of cash per reference share.
The Calculation Agent will adjust the common share component of the new
physical delivery amount to reflect any later stock split or other event,
including any later reorganization event, that affects the new shares, to the
extent described in this section entitled “Antidilution adjustments” as if the
new shares were the common stock of the issuer of the reference shares. In that
event, the cash component will not be adjusted but will continue to be a
component of the physical delivery amount. Consequently, Holders who receive
reference shares at maturity will be entitled to receive, for each $1,000 of
the outstanding principal amount of the Securities being exchanged, all
components of the physical delivery amount in effect on the exchange date, with
each component having been adjusted on a sequential and cumulative basis for
all relevant events requiring adjustment on or before the exchange date. 


 


If a reorganization event
occurs, the property distributed in the event will be substituted for the
common stock of the issuer of the reference shares as described above. Consequently,
references to the common stock of the issuer of the reference shares mean any
property that is distributed in a reorganization event and comprises the
adjusted physical delivery amount. Similarly, references to the issuer of the
reference shares mean any successor entity in a reorganization event.


 


Events of Default and Acceleration


 


In case an Event of Default (as defined in the
Indenture) with respect to the Securities shall have occurred and be
continuing, the amount declared due and payable upon any acceleration of the
Securities (in accordance with the acceleration provisions set forth in the 


 


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prospectus) will be determined by the Calculation Agent and will equal,
for each security, the arithmetic average, as determined by the Calculation
Agent, of the fair market value of the Securities as determined by at least
three but not more than five broker-dealers (which may include Credit Suisse
Securities (USA) LLC or any of the Company’s other subsidiaries or affiliates)
as will make such fair market value determinations available to the Calculation
Agent.


 


The Company, the Trustee and any agent of the Company
or the Trustee may deem and treat the registered Holder hereof as the absolute
owner of this Note (whether or not this Note shall be overdue and
notwithstanding any notation of ownership or other writing hereon) for the
purpose of receiving payment of, or on account of, the redemption amount
hereof, and for all other purposes, and neither the Company nor the Trustee nor
any agent of the Company or the Trustee shall be affected by any notice to the
contrary.


 


No recourse under or upon any obligation, covenant or
agreement contained in the Indenture or any indenture supplemental thereto or
in any Note, or because of any indebtedness evidenced thereby, shall be had against
any incorporator as such, or against any past, present or future stockholder,
officer, director or employee, as such, of the Company or of any successor,
either directly or through the Company or any successor, under any rule of law,
statute or constitutional provision or by the enforcement of any assessment or
by any legal or equitable proceeding or otherwise, all such liability being
expressly waived and released by the acceptance hereof and as part of the
consideration for the issue hereof.


 


The Calculation Agent for the Securities (the
“Calculation Agent”) is Credit Suisse International. The calculations and
determinations of the Calculation Agent will be final and binding upon all
parties (except in the case of manifest error). The Calculation Agent will have
no responsibility for good faith errors or omissions in its calculations and
determinations, whether caused by negligence or otherwise.


 


Terms used herein that are defined in the Indenture
and not otherwise defined herein shall have the respective meanings assigned
thereto in the Indenture.


 


The laws of the State of New York (without regard to
conflicts of laws principles thereof) shall govern this Note.


 


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FOR VALUE RECEIVED, the undersigned hereby sell(s),
assign(s) and transfer(s) unto


 


[PLEASE INSERT SOCIAL
SECURITY OR OTHER IDENTIFYING NUMBER OF ASSIGNEE]


 


 


[PLEASE PRINT OR TYPE
NAME AND ADDRESS, INCLUDING ZIP CODE, OF ASSIGNEE]


 


 


the within Note and all
rights thereunder, hereby irrevocably constituting and appointing


 


 


                                                                                                                                                                                            
Attorney to transfer such Note on the books of the Issuer, with full power of
substitution in the premises.


 


	
   

  	
  Signature:

  
	
   

  	
   

  
	
   

  	
   

  
	
  Dated:

  	
   

  	
   

  	
   

  
	
   

  	
  NOTICE:The signature to
  this assignment must correspond with the name as written upon the face of the
  within Note in every particular without alteration or enlargement or any
  change whatsoever.

  
				



 


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