Document:

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

  	
  CUSIP:  22541LAV5

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  PRINCIPAL
  AMOUNT: $1,000,000

  
	
  NO. 1

  	
   

  

 

CREDIT SUISSE FIRST BOSTON (USA), INC.

Reverse Convertible Securities Linked to the Performance of Abercrombie and
Fitch, Co.

due April 28, 2006

 

CREDIT SUISSE FIRST BOSTON (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
11.00% per annum on the principal amount from April 29, 2005.  The coupon will represent an interest
component and an option premium.  The
coupon payment will be payable quarterly in arrears on July 29, 2005, October  31, 2005, January 31, 2006 and April 28,
2006.

 

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.

 

F-1

 

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

 

	
   

  	
  CREDIT SUISSE FIRST
  BOSTON (USA), INC.

  
	
   

  	
   

  
	
   

  	
   

  
	
  [SEAL]

  	
  By:

  	
      /s/
  John A. Ehinger

  	
   

  
	
   

  	
   

  	
  Name:  John
  A. Ehinger

  
	
   

  	
   

  	
  Title:  Managing
  Director

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
      /s/
  Raymond Disco

  	
   

  
	
   

  	
   

  	
  Name:  Raymond
  Disco

  
	
   

  	
   

  	
  Title:  Assistant
  Treasurer

  
					

 

 

CERTIFICATE OF
AUTHENTICATION

 

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

 

	
  Dated: April 29, 2005

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  JPMORGAN CHASE BANK,

  
	
   

  	
  as Trustee

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
      /s/
  Tai B. Lee

  	
   

  
	
   

  	
   

  	
  Authorized Signatory

  

 

F-2

 

[REVERSE OF NOTE]

 

CREDIT SUISSE FIRST BOSTON (USA), INC.

Reverse Convertible Securities Linked to the Performance of Abercrombie and
Fitch, Co.

due
April 28, 2006

 

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 Abercrombie and
Fitch, Co. due April 28, 2006 (the “Note”).

 

A coupon will be payable on this Note of
11.00% per annum on the principal amount from April 29, 2005.  The coupon will represent an interest
component and an option premium.  The
coupon payment will be payable quarterly in arrears on July 29, 2005, October 31,
2005, January 31, 2006 and April 28, 2006.

 

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

 

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upon an acceleration of
the maturity thereof or the amount thereof provable in bankruptcy, or 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 $10,000 or any integral
multiple thereof at the office or agency of the

 

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Company in the
Borough of Manhattan, The City of New York, and in the manner and subject to
the limitations provided in the Indenture.

 

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 April 28, 2006 (the “Maturity
Date”); however, if a Market Disruption Event exists on any valuation date, as
determined by the Calculation Agent, the Maturity Date will be the later of April 28,
2006 and the third Business Day following the date on which the final share
price is calculated.

 

Redemption
Amount

 

The Company will redeem the Securities at maturity for
a Redemption Amount that will be based upon the performance of the common stock
of Abercrombie and Fitch, Co. (the “reference shares”) during the term of the
Securities (the “Redemption Amount”).   The Redemption Amount is calculated as follows:

 

(1)    If the
price of the reference shares on the New York Stock Exchange (the “relevant
exchange”) is not less than or equal to the knock-in level, which is 80% of the
Initial Share Price, at all times from but not including April 29, 2005,
which is the initial setting date, to and including April 25, 2006 (the “valuation
date”), the Redemption Amount will equal a cash payment equal to 100% of the
principal amount of the Securities at maturity.

 

(2)    If (i)
the price of the reference shares on the relevant exchange is less than or
equal to the knock-in level at any time from but not including the initial
setting date to and including the valuation date and (ii) the closing price of
the reference shares on that exchange on the valuation date (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 at maturity.

 

(3)    Otherwise,
Holders will receive the physical delivery amount.  The physical delivery amount will be the
number of reference shares per $1,000 principal amount of the Securities equal
to $1,000 divided by the Initial Share Price.

 

The “Initial Share Price” is equal to $54.45.

 

A “Business Day” is 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 or executive
order to close and that is also a trading day.

 

R-3

 

A “Market Disruption
Event” is, 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.

 

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 on the Chicago Mercantile Exchange and the Chicago Board Options
Exchange (collectively, 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 March 31,
2006 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.

 

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 Securities and Exchange Commission
(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

 

R-4

 

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 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.

 

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:

 

	
  adjusted initial share price = initial share price X

  	
  prior physical delivery amount

  	
   

  
	
  adjusted physical delivery amount

  	
   

  

 

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.

 

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

 

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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 your written
request, the Calculation Agent will provide information about any adjustments
it makes.

 

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;

 

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(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 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

 

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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
extraordinary 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 extraordinary 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 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

 

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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 extraordinary 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 extraordinary 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”).

 

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

 

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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.

 

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.

 

R-10

 

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

 

Upon due presentment for registration of transfer of
this Note at the office or agency of the Company in the Borough of Manhattan,
The City of New York, a new Note or Securities of authorized denominations for
an equal aggregate principal amount will be issued to the transferee in
exchange therefor, subject to the limitations provided in the Indenture,
without charge except for any tax or other governmental charge imposed in
connection therewith.

 

R-11

 

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 First Boston 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.

 

R-12

 

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.

  
				

 

R-13Exhibit 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

  	
   

  	
  CUSIP: 22541LAX1

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  PRINCIPAL AMOUNT:
  $1,300,000

  
	
  NO. 1

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  CREDIT SUISSE
  FIRST BOSTON (USA), INC.

  
	
  Reverse
  Convertible Securities Linked to the Performance of Apple Computer, Inc.

  due April 28, 2006

  

 

CREDIT SUISSE FIRST BOSTON (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
11.50% per annum on the principal amount from April 29, 2005.  The coupon will represent an interest
component and an option premium.  The
coupon payment will be payable quarterly in arrears on July 29, 2005, October
31, 2005, January 31, 2006 and April 28, 2006.

 

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.

 

F-1

 

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

 

	
   

  	
  CREDIT SUISSE FIRST BOSTON (USA), INC.

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  [SEAL]

  	
  By:

  	
  /s/ John A. Ehinger

  	
   

  
	
   

  	
   

  	
  Name: John A. Ehinger

  	
   

  
	
   

  	
   

  	
  Title: Managing Director

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Raymond Disco

  	
   

  
	
   

  	
   

  	
  Name: Raymond Disco

  	
   

  
	
   

  	
   

  	
  Title: Assistant Treasurer

  	
   

  
						

 

 

CERTIFICATE OF
AUTHENTICATION

 

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

 

Dated:  April 29,
2005

 

	
   

  	
  JPMORGAN CHASE BANK,

  
	
   

  	
  as Trustee

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Tai B. Lee

  	
   

  
	
   

  	
   

  	
  Authorized Signatory

  	
   

  

 

F-2

 

[REVERSE OF NOTE]

 

CREDIT
SUISSE FIRST BOSTON (USA), INC.

Reverse
Convertible Securities Linked to the Performance of Apple Computer, Inc.

due April 28, 2006

 

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 Apple Computer, Inc. due April 28, 2006 (the “Note”).

 

A coupon will be payable on this Note of
11.50% per annum on the principal amount from April 29, 2005.  The coupon will represent an interest
component and an option premium.  The
coupon payment will be payable quarterly in arrears on July 29, 2005, October 31,
2005, January 31, 2006 and April 28, 2006.

 

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

 

R-1

 

upon an acceleration of the maturity thereof or the amount thereof
provable in bankruptcy, or 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 $10,000 or any integral
multiple thereof at the office or agency of the

 

R-2

 

Company in the Borough of Manhattan, The City of New
York, and in the manner and subject to the limitations provided in the
Indenture.

 

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 April 28, 2006 (the “Maturity
Date”); however, if a Market Disruption Event exists on any valuation date, as
determined by the Calculation Agent, the Maturity Date will be the later of April 28,
2006 and the third Business Day following the date on which the final share
price is calculated.

 

Redemption Amount

 

The Company will redeem the Securities at maturity for
a Redemption Amount that will be based upon the performance of the common stock
of Apple Computer, Inc. (the “reference shares”) during the term of the
Securities (the “Redemption Amount”).   The Redemption Amount is calculated as
follows:

 

(1)    If the price
of the reference shares on the Nasdaq National Market (the “relevant exchange”)
is not less than or equal to the knock-in level, which is 70% of the Initial
Share Price, at all times from but not including April 29, 2005, which is
the initial setting date, to and including April 25, 2006 (the “valuation
date”), the Redemption Amount will equal a cash payment equal to 100% of the
principal amount of the Securities at maturity.

 

(2)    If (i) the
price of the reference shares on the relevant exchange is less than or equal to
the knock-in level at any time from but not including the initial setting date
to and including the valuation date and (ii) the closing price of the
reference shares on that exchange on the valuation date (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 at
maturity.

 

(3)   
Otherwise, Holders will receive the physical delivery amount.  The physical delivery amount will be the
number of reference shares per $1,000 principal amount of the Securities equal
to $1,000 divided by the Initial Share Price.

 

The “Initial Share Price” is equal to $36.19.

 

A “Business Day” is 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 or executive
order to close and that is also a trading day.

 

R-3

 

A “Market
Disruption Event” is, 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.

 

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 on the Chicago Mercantile Exchange and the Chicago Board Options
Exchange (collectively, 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 March 31, 2006 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.

 

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 Securities and Exchange
Commission (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

 

R-4

 

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
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.

 

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:

 

	
  adjusted
  initial share price = initial share price X

  	
  prior physical delivery amount

  
	
  adjusted physical delivery amount

  

 

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.

 

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

 

R-5

 

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 your written request, the Calculation
Agent will provide information about any adjustments it makes.

 

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;

 

R-6

 

(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 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

 

R-7

 

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 extraordinary 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 extraordinary 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 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

 

R-8

 

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 extraordinary 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
extraordinary 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”).

 

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

 

R-9

 

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.

 

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.

 

R-10

 

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

 

Upon due presentment for registration of transfer of
this Note at the office or agency of the Company in the Borough of Manhattan,
The City of New York, a new Note or Securities of authorized denominations for
an equal aggregate principal amount will be issued to the transferee in
exchange therefor, subject to the limitations provided in the Indenture,
without charge except for any tax or other governmental charge imposed in
connection therewith.

 

R-11

 

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 First Boston 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.

 

R-12

 

 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.

  
						

 

R-13

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