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:  22541FDR4

  
	
   

  	
   

  
	
   

  	
   

  
	
  NO. 1

  	
  PRINCIPAL
  AMOUNT: $313,000

  

 

CREDIT SUISSE (USA), INC.

ProNotes Linked to the Value of the S&P 500 Index

due April 29, 2013

 

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.

 

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.

 

This Note will not pay interest.

 

F-1

 

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/ Grace
  Koo

  	
   

  
	
   

  	
   

  	
    Name: 

  	
  Grace Koo

  
	
   

  	
   

  	
    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: April 28, 2006

  	
   

  
	
   

  	
   

  
	
   

  	
  JPMORGAN CHASE, N.A.,

  
	
   

  	
  as Trustee

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
     /s/
  Ignazio Tamburello

  	
   

  
	
   

  	
   

  	
  Name: 

  	
  Ignazio Tamburello

  
	
   

  	
   

  	
  Title:

  	
  Authorized Signatory

  
					

 

F-2

 

[REVERSE OF NOTE]

 

CREDIT SUISSE (USA), INC.

ProNotes Linked to the Value of the S&P 500 Index

due April 29, 2013

 

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
ProNotes Linked to the Value of the S&P 500 Index, due April 29, 2013
(the “Note”).

 

This Note will not pay interest.

 

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 change any place of payment where, or the currency in which, any
Security of such series or any

 

R-1

 

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 $1,000 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.

 

R-2

 

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 29, 2013 (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 April 29, 2013, and the fifth
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 equal
to the principal amount of the Securities multiplied by the sum of 1 plus the
index return, calculated as set forth below (the “redemption amount”). If the
final index level is greater than the initial index level, the index return
will equal the percentage increase of the basket. If the final index level is
equal to or less than the initial index level, the index return will equal
zero, and the redemption amount will be equal to the principal amount of the
Securities at maturity.

 

How the index return will
be calculated depends on whether the final index level is greater than or less
than or equal to the initial index level:

 

•                  If
the final index level is greater than the initial index level, then the index
return will equal:

final index level -
initial index level

initial index
level

 

Thus, if the final index
level is greater than the initial index level, the index return will be a
positive number, in which case the redemption amount will be greater than the
principal amount of the Securities at maturity.

 

•                  If
the final index level is less than or equal to the initial index level, then
the index return will equal zero, and the redemption amount will equal the
principal amount of the securities.

 

For purposes of
calculating the index return, the initial index level is 1,311.28, the level on
April 21, 2006, the date the Securities are priced for initial sale to the
public. The final index level will equal the closing level of the reference
index on the valuation date, subject to postponement if a market disruption even
occurs.

 

The “valuation date” is April 22,
2013, subject to postponement if a market disruption event occurs on that date.

 

R-3

 

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 an index business day.

 

An “index business day”
with respect to any reference index is any day that is (or, but for the
occurrence of a market disruption event, would have been) a day on which
trading is generally conducted on the applicable exchanges and related
exchanges (each as defined below), other than a day on which one or more of the
applicable exchanges or related exchanges is scheduled to close prior to its
regular weekday closing time. “Exchange,” with respect to any reference index
means the principal exchange on which any stock underlying that reference index
is traded. “Related exchange” means any exchange on which futures or options
contracts relating to that reference index are traded.

 

Market
Disruption Events

 

A “market disruption
event” is, in respect of any reference index, the occurrence or existence on
any index business day for that reference index during the one-half hour period
that ends at the relevant valuation time, of any suspension of or limitation
imposed on trading (by reason of movements in price exceeding limits permitted
by the relevant exchange or otherwise) on:

 

(a) the exchanges in
securities that comprise 20% or more of the level of the relevant reference
index based on a comparison of (1) the portion of the level of the
reference index attributable to each security in which trading is, in the
determination of the Calculation Agent, materially suspended or materially
limited relative to (2) the overall level of the reference index, in the
case of (1) or (2) immediately before that suspension or limitation;

 

(b) a related
exchange in options contracts on the relevant reference index; or

 

(c) a related
exchange in futures contracts on the relevant reference index;

 

in the case of (a), (b) or
(c) if, in the determination of the Calculation Agent, such suspension or
limitation is material.

 

If the Calculation Agent
determines that a market disruption event exists in respect of a reference
index on the valuation date, then that valuation date for such reference index
will be postponed to the first succeeding index business day for that reference
index on which the Calculation Agent determines that no market disruption event
exists in respect of such reference index, unless in respect of the valuation
date the Calculation Agent determines that a market disruption event exists in
respect of such reference index on each of the five index business days
immediately following the scheduled valuation date. In that case, (a) the
fifth succeeding index business day following the scheduled valuation date will
be deemed to be the valuation date for such reference index, notwithstanding
the market disruption event in respect of such reference index, and (b) the
Calculation Agent will determine the index level for that reference index on
that deemed valuation date in accordance with the formula for and method of
calculating that reference index last in effect prior to the commencement of
the market disruption event in respect of such reference index using exchange
traded prices on the relevant exchanges (as determined by the Calculation Agent
in its sole and absolute discretion) or, if trading in any

 

R-4

 

security or securities comprising such reference index
has been materially suspended or materially limited, its good faith estimate of
the prices that would have prevailed on the exchanges (as determined by the
Calculation Agent in its sole and absolute discretion) but for the suspension
or limitation, as of the valuation time on that deemed valuation date, of each
such security comprising such reference index (subject to the provisions
described under “Adjustments to the calculation of the reference index” below).
The valuation date for each reference index not affected by a market disruption
event shall be the scheduled valuation date.

 

In the event that a
market disruption event exists in respect of a reference index on the valuation
date, the maturity date of the securities will be postponed to the fifth
business day following the day as of which the closing level on the valuation
date for each reference index has been calculated. No interest or other payment
will be payable because of any such postponement of the maturity date.

 

Adjustments
to the calculation of the reference index

 

If the reference index is
(a) not calculated and announced by its sponsor but is calculated and
announced by a successor acceptable to the Calculation Agent or (b) replaced
by a successor index using, in the determination of the Calculation Agent, the
same or a substantially similar formula for and method of calculation as used
in such reference index, then such reference index will be deemed to be the
index so calculated and announced by that successor sponsor or that successor
index, as the case may be.

 

Upon any selection by the
Calculation Agent of a successor index, the Calculation Agent will cause notice
to be furnished to us and the trustee, which will provide notice of the
selection of the successor index to the registered holders of the securities in
the manner set forth below.

 

If (x) on or prior to a
valuation date any index sponsor makes, in the determination of the Calculation
Agent, a material change in the formula for or the method of calculating a
reference index or in any other way materially modifies a reference index
(other than a modification prescribed in that formula or method to maintain
such reference index in the event of changes in constituent stocks and
capitalization and other routine events) or (y) on any valuation date an index
sponsor (or a successor sponsor) fails to calculate and announce a reference
index, then the Calculation Agent will calculate the redemption amount using,
in lieu of a published level for such reference index, the level for such
reference index as at the valuation time on the valuation date as determined by
the Calculation Agent in accordance with the formula for and method of
calculating such reference index last in effect prior to that change or
failure, but using only those securities that comprised such reference index
immediately prior to that change or failure.

 

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
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

 

R-5

 

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.

 

R-6

 

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-7Exhibit 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: 22541FDM5
  

  
	
   

  	
   

  	
   

  
	
  NO. 1

  	
   

  	
  PRINCIPAL
  AMOUNT: $1,950,000

  

 

CREDIT SUISSE (USA), INC.

ProNotes Linked to the Value of a Global Basket of Indices

due October 30, 2009

 

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.

 

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.

 

This Note will not pay interest.

 

F-1

 

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/
  Grace Koo

  	
   

  
	
   

  	
   

  	
  Name:

  	
  Grace Koo

  
	
   

  	
   

  	
  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:  April 28,
2006

 

	
   

  	
  JPMORGAN CHASE, N.A.,

  
	
   

  	
  as Trustee

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Ignazio Tamburello

  	
   

  
	
   

  	
   

  	
  Name:

  	
  Ignazio
  Tamburello

  
	
   

  	
   

  	
  Title:

  	
  Authorized
  Signatory

  
					

 

F-2

 

[REVERSE OF NOTE]

 

CREDIT SUISSE (USA), INC.

ProNotes Linked to the Value of a Global Basket of Indices

due October 30, 2009

 

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
ProNotes Linked to the Value of a Global Basket of Indices, due October 30,
2009 (the “Note”).

 

This Note will not pay interest.

 

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 change any place of payment where, or the currency in which, any
Security of such series or any

 

R-1

 

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 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.

 

R-2

 

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 October 30, 2009 (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 October 30, 2009, and the fifth 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 equal
to the principal amount of the Securities multiplied by the sum of 1 plus the
basket return, calculated as set forth below (the “redemption amount”). If the
final basket level is greater than the initial basket level, the basket return
will equal the percentage increase of the basket. If the final basket level is
equal to or less than the initial basket level, the basket return will equal
zero, and the redemption amount will be equal to the principal amount of the
Securities at maturity.

 

How the basket return
will be calculated depends on whether the final basket level is greater than or
less than or equal to the initial basket level:

 

•                  If
the final basket level is greater than the initial basket level, then the
basket return will equal:

 

final basket level -
initial basket level

initial basket
level

 

Thus, if the final basket
level is greater than the initial basket level, the basket return will be a
positive number, in which case the redemption amount will be greater than the
principal amount of the Securities at maturity.

 

•                  If
the final basket level is less than or equal to the initial basket level, then
the basket return will equal zero, and the redemption amount will equal the
principal amount of the securities.

 

For purposes of calculating
the basket return, the basket level on any valuation date will be equal to the
sum of:

 

(a)          the product of:

 

(x)           .29, the weighting of
the FTSE 100 Index in the basket, multiplied by

 

(y)         the closing level of the
FTSE 100 Index on the valuation date divided by 6,098.70, the closing level of
the FTSE 100 Index on April 24, 2006, the index business day

 

R-3

 

immediately following the
date the securities are priced for initial sale to the public, plus

 

(b)         the product of:

 

(x)           .39, the weighting of
the Dow Jones EURO STOXX 50 Index in the basket, multiplied by

 

(y)         the closing level of the
Dow Jones EURO STOXX 50 Index on the valuation date divided by 3,862.27, the
closing level of the Dow Jones EURO STOXX 50 Index on April 24, 2006, the
index business day immediately following the date the securities are priced for
initial sale to the public, plus

 

(c)          the product of:

 

(x)           .28, the weighting of
the Nikkei 225 Index in the basket, multiplied by

 

(y)         the closing level of the
Nikkei 225 Index on the valuation date divided by 16,914.40, the closing level
of the Nikkei 225 Index on April 24, 2006, the index business day
immediately following the date the securities are priced for initial sale to
the public, plus

 

(d)         the product of:

 

(x)           .04, the weighting of
the S&P/ASX 200 Index in the basket, multiplied by

 

(y)         the closing level of the
S&P/ASX 200 Index on the valuation date divided by 5,269.80, the closing
level of the S&P/ASX 200 Index on April 24, 2006, the index business
day immediately following the date the securities are priced for initial sale
to the public.

 

The “initial basket level”
equals 1.0.

 

The “final basket level”
will equal the arithmetic average of the basket levels on the valuation dates.

 

The “valuation dates” are
the 23rd day of each month from and including August 23, 2009,
through and including October 23, 2009, which will be the “final valuation
date,” subject to postponement if a market disruption event occurs on that
date.

 

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 an index business day.

 

An “index business day”
with respect to any reference index is any day that is (or, but for the
occurrence of a market disruption event, would have been) a day on which
trading is generally conducted on the applicable exchanges and related
exchanges (each as defined below), other than a day on which one or more of the
applicable exchanges or related exchanges is scheduled to close prior to its
regular weekday closing time. “Exchange,” with respect to any reference index
means the principal exchange on which any stock underlying that reference

 

R-4

 

index is traded. “Related exchange” means any exchange
on which futures or options contracts relating to that reference index are
traded.

 

Market
Disruption Events

 

A “market disruption
event” is, in respect of any reference index, the occurrence or existence on
any index business day for that reference index during the one-half hour period
that ends at the relevant valuation time, of any suspension of or limitation
imposed on trading (by reason of movements in price exceeding limits permitted
by the relevant exchange or otherwise) on:

 

(a) the exchanges in
securities that comprise 20% or more of the level of the relevant reference
index based on a comparison of (1) the portion of the level of the
reference index attributable to each security in which trading is, in the
determination of the Calculation Agent, materially suspended or materially
limited relative to (2) the overall level of the reference index, in the
case of (1) or (2) immediately before that suspension or limitation;

 

(b) a related
exchange in options contracts on the relevant reference index; or

 

(c) a related
exchange in futures contracts on the relevant reference index;

 

in the case of (a), (b) or
(c) if, in the determination of the Calculation Agent, such suspension or
limitation is material.

 

If the Calculation Agent
determines that a market disruption event exists in respect of a reference
index on the valuation date, then that valuation date for such reference index
will be postponed to the first succeeding index business day for that reference
index on which the Calculation Agent determines that no market disruption event
exists in respect of such reference index, unless in respect of the valuation
date the Calculation Agent determines that a market disruption event exists in
respect of such reference index on each of the five index business days
immediately following the scheduled valuation date. In that case, (a) the
fifth succeeding index business day following the scheduled valuation date will
be deemed to be the valuation date for such reference index, notwithstanding
the market disruption event in respect of such reference index, and (b) the
Calculation Agent will determine the index level for that reference index on
that deemed valuation date in accordance with the formula for and method of
calculating that reference index last in effect prior to the commencement of
the market disruption event in respect of such reference index using exchange
traded prices on the relevant exchanges (as determined by the Calculation Agent
in its sole and absolute discretion) or, if trading in any security or
securities comprising such reference index has been materially suspended or
materially limited, its good faith estimate of the prices that would have
prevailed on the exchanges (as determined by the Calculation Agent in its sole
and absolute discretion) but for the suspension or limitation, as of the
valuation time on that deemed valuation date, of each such security comprising
such reference index (subject to the provisions described under “Adjustments to
the calculation of the reference indices” below). The valuation date for each
reference index not affected by a market disruption event shall be the
scheduled valuation date.

 

In the event that a
market disruption event exists in respect of a reference index on the valuation
date, the maturity date of the securities will be postponed to the fifth
business day following the day as of which the closing level on the valuation
date for each reference index

 

R-5

 

has been calculated. No interest or other payment will
be payable because of any such postponement of the maturity date.

 

Adjustments
to the calculation of the reference indices

 

If any of the reference
indices is (a) not calculated and announced by its sponsor but is
calculated and announced by a successor acceptable to the Calculation Agent or (b) replaced
by a successor index using, in the determination of the Calculation Agent, the
same or a substantially similar formula for and method of calculation as used
in such reference index, then such reference index will be deemed to be the
index so calculated and announced by that successor sponsor or that successor
index, as the case may be.

 

Upon any selection by the
Calculation Agent of a successor index, the Calculation Agent will cause notice
to be furnished to us and the trustee, which will provide notice of the
selection of the successor index to the registered holders of the securities in
the manner set forth below.

 

If (x) on or prior to a
valuation date any index sponsor makes, in the determination of the Calculation
Agent, a material change in the formula for or the method of calculating a
reference index or in any other way materially modifies a reference index
(other than a modification prescribed in that formula or method to maintain
such reference index in the event of changes in constituent stocks and
capitalization and other routine events) or (y) on any valuation date an index
sponsor (or a successor sponsor) fails to calculate and announce a reference
index, then the Calculation Agent will calculate the redemption amount using,
in lieu of a published level for such reference index, the level for such
reference index as at the valuation time on the valuation date as determined by
the Calculation Agent in accordance with the formula for and method of
calculating such reference index last in effect prior to that change or
failure, but using only those securities that comprised such reference index
immediately prior to that change or failure.

 

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
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.

 

R-6

 

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.

 

R-7

 

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-8

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