Document:

[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: 225434AR0

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
  PRINCIPAL
  AMOUNT: $390,000

  

NO. 1

 

CREDIT SUISSE (USA), INC.

Reverse Convertible Securities Linked to the Performance of Countrywide
Financial Corp.

due April 27, 2007

 

CREDIT SUISSE (USA), INC., a Delaware corporation
(the “Company”, which term includes any successor corporation under the
Indenture hereinafter referred to), for value received, hereby promises to pay
to Cede & Co., or registered assigns, at the office or agency of the
Company in New York, New York, the Redemption Amount (as defined on the reverse
hereof) on the Maturity Date (as defined on the reverse hereof), in the coin or
currency of the United States and to pay a coupon of
9.25% per annum on the principal amount from April 28, 2006. The coupon
payment will be payable quarterly in arrears on July 31, 2006, October 31,
2006, January 31, 2007, and April 27, 2007.

 

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

 

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

 

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

  	
   

  
	
   

  	
   

  	
  Ignazio Tamburello

  
	
   

  	
   

  	
  Authorized Signatory

  

 

F-2

 

[REVERSE OF NOTE]

 

CREDIT SUISSE (USA), INC.

Reverse Convertible Securities Linked to the Performance of Countrywide
Financial Corp.

due April 27, 2007

 

This
Note is one of a duly authorized issue of debentures, notes, bonds or other
evidences of indebtedness of the Company (the “Securities”) of the
series hereinafter specified, all issued or to be issued under and
pursuant to a senior indenture, dated as of June 1, 2001 (the
“Indenture”), between the Company and JPMorgan Chase Bank, as trustee (the
“Trustee”), to which Indenture and all indentures supplemental thereto
reference is hereby made for a description of the rights, limitations of
rights, obligations, duties and immunities thereunder of the Trustee, the
Company, and the Holders of the Securities. The Securities may be issued
in one or more series, which different series may be issued in
various aggregate principal amounts, may mature at different times, may bear
interest (if any) at different rates, may be subject to different
redemption provisions (if any), may be subject to different sinking,
purchase or analogous funds (if any) and may otherwise vary as provided in
the Indenture. This Note is one of a series designated as the Reverse
Convertible Securities Linked to the Performance of Countrywide Financial
Corp., due April 27, 2007 (the “Note”).

 

A coupon will be payable on this Note of
9.25% per annum on the principal amount from April 28, 2006. The coupon
payment will be payable quarterly in arrears on July 31, 2006, October 31,
2006, January 31, 2007, and April 27, 2007.

 

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

 

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

 

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

 

R-1

 

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 $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 27, 2007 (the “Maturity
Date”); however, if a market disruption event exists on the Valuation Date, as
determined by the Calculation Agent, the Maturity Date will be the later of April 27,
2007, and the third business day following the date on which the closing price
for the reference shares is calculated.

 

Redemption
Amount

 

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

 

(1)      If the closing price of the
reference shares on the New York Stock Exchange (the “relevant exchange”) is
not less than the knock-in level, which is 80% of the Initial Share Price, on
any day from but not including April 25, 2006, which is the initial
setting date, to and including April 23, 2007 (the “Valuation Date”), the
redemption amount will equal a cash payment equal to 100% of the principal
amount of the Securities.

 

(2)      If (i) the closing
price of the reference shares on the relevant exchange is less than the
knock-in level on any day from but not including April 25, 2006, which is
the initial setting date, to and including the Valuation Date and (ii) the
closing price of the reference shares on the relevant exchange on the Valuation
Date, which we refer to as the final share price, is greater than or equal to
the Initial Share Price, the redemption amount will equal a cash payment equal
to 100% of the principal amount of the Securities.

 

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

 

The “Initial Share Price”
is $37.99.

 

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

 

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

 

R-3

 

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

 

Market
Disruption Events

 

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

 

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

 

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

 

R-4

 

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

 

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

 

Antidilution
Adjustments 

 

General

 

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

 

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

 

	
  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.

 

R-5

 

Adjustments

 

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

 

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

 

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

 

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

 

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

 

R-6

 

Events requiring an antidilution
adjustment

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

Certain adjustment events are discussed in
greater detail below.

 

Stock splits

 

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

 

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

 

Reverse stock splits

 

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

 

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

 

R-7

 

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

 

Stock dividends

 

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

 

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

 

Other dividends and distributions

 

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

 

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

 

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

 

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

 

R-8

 

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

 

Transferable rights and warrants

 

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

 

Reorganization events

 

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

 

R-9

 

Adjustments for reorganization events

 

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

 

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

 

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

 

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

 

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

 

R-10

 

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

 

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

 

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

 

Events
of Default and Acceleration

 

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

 

R-11

 

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

 

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

 

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

 

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

 

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

 

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

 

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

  

  NO. 1

  	
   

  	
  CUSIP: 22541FDS2

  

  PRINCIPAL AMOUNT: $2,772,000

  

 

	
  CREDIT SUISSE
  (USA), INC.

  ProNotes Linked to the Value of a Global Basket of Equity Indices

  due July 28, 2010

  

 

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 Equity Indices

due July 28, 2010

 

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
Equity Indices, due July 28, 2010 (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 July 28, 2010 (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
July 28, 2010, 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
final basket level will be equal to the sum of:

 

(a)          the product of:

 

(x)           .60, the weighting of
the S&P 500 Index in the basket, multiplied by

 

(y)         the closing level of the
S&P 500 Index on the valuation date divided by 1,311.28, the closing level
of the S&P 500 Index on April 21, 2006, the date the securities are priced
for initial sale to the public, plus

 

R-3

 

(b)         the product of:

 

(x)           .20, 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 3,888.46, the
closing level of the Dow Jones EURO STOXX 50 Index on April 21, 2006, the date
the securities are priced for initial sale to the public, plus

 

(c)          the product of:

 

(x)           .20, 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 17,403.96, the closing level
of the Nikkei 225 Index on April 21, 2006, the date the securities are priced
for initial sale to the public.

 

The “initial basket level” equals 1.0.

 

The “valuation date” is July 21, 2010, 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 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

 

R-4

 

(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 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.

 

R-5

 

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.

 

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.

 

R-6

 

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

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00102-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00102-of-00352.parquet"}]]