FWP 1 a07-30764_1fwp.htm FWP

 

Free Writing Prospectus

Filed Pursuant to Rule 433

Registration No. 333-132936-14

December 5, 2007

 

 

 

Subscription until December 20, 2007

 

 

 

 


 

 

Accelerated Return Securities (ARES®)

 

         3 Separate Deals - Linked to the: SPX | RTY | NKY

 

         Due March 27th, 2008 | 200% Upside Participation | 0% Protection

 

Offering Period

 

Closes on:

 

Dec. 20, 2007

This free writing prospectus relates to separate ARES offerings, each of which is identified by reference to the underlying index (set forth in the table below) to which it is linked. We refer to each underlying index as the Reference Index. The following are summary indicative terms (subject to change and completion) that relate to each separate Accelerated Return Equity Securities offering.

Indicative Terms, December 5, 2007

 

EQUITY INDICES ARES® OVERVIEW

Equity Indices ARES® allow investor to receive at maturity 200% upside participation, subject to a cap, in the performance of the Reference Index – if the Reference Index appreciates; if it does not appreciate, investors are exposed to 100% of the losses. The return on the securities is measured point to point with no calls or averaging, subject to a cap. The ARES® are not principal protected.

 

 

INDICATIVE PRODUCT TERMS:

RELEVANT DATES:

Issuer:

Credit Suisse Nassau Branch

Offering Period:

Closes on Thurs., Dec. 20th @

Distributor:

Credit Suisse Securities (USA) LLC

 

2:00pm EST

Denomination:

Minimum initial purchase of U.S. $1,000 per Note and

Trade Date:

December 20th, 2007

 

integral multiples of U.S. $1,000 thereafter

Settlement Date:

December 27th, 2007

Initial Index

Closing level of the Reference Index on the business

Valuation Date:

March 20th, 2008

Level:

day immediately following Trade Date.

Maturity Date:

March 27th, 2008 (3 months)

Final Index Level:

Closing level of the Reference Index on the Valuation
Date

 

 

Upside

200%

 

 

Participation:

 

 

 

Downside

100%

 

 

Participation:

 

 

 

Index Return:

If the Final Index Level is > the Initial Index Level, then the Index Return will equal:

      Upside Participation x ((Final Index Level – Initial Index Level) / Initial Index Level), subject to the cap

 

If the Final Index Level is < the Initial Index Level, then the Index Return will equal:

      Downside Participation x ((Final Index Level – Initial Index Level) / Initial Index Level)

 

Redemption
Amount at
Maturity:

For each $1,000 principal amount of ARES, on the Maturity Date, a holder will receive an amount in cash equal to the principal amount of ARES multiplied by the sum of (1+ Index Return).

 

 

UNDERLYING:

Reference Index

Ticker

Principal Amount

Initial Index Level

Upside Participation

 

 

Cap

Annualized Max Return

CUSIP / ISIN

Prospectus Link

S&P 500 Index

SPX

TBD

TBD

200%

5.25%

21.00%

22546EAP9 /
US22546EAP97

ARES - SPX

Russell 2000 Index

RTY

TBD

TBD

200%

9.20%

36.80%

22546EAQ7 /
US22546EAQ70

ARES - RTY

Nikkei 225 Index

NKY

TBD

TBD

200%

7.00%

28.00%

22546EAS3 /
US22546EAS37

ARES - NKY



Credit Suisse w Structured Retail Products w 11 Madison Ave, NY, NY 10010 w 1-888-537-4898 w structured.notes@credit-suisse.com

 


 

 

 

Product Snapshot

 

 

Structure Overview:

Reference Index:

3 Separate Deals: SPX | RTY | NKY

Cap:

5.25% | 9.20% | 7.00%, respectively

Cap Defined:

The maximum return the investor can receive on their Note

Term:

3 months

Upside Participation:

200%

Downside Participation:

100%

Index Return:

(a.)  If the Final Index Level is > the Initial Index Level, then the Index Return will equal:

      Upside Participation x ((Final Index Level – Initial Index Level) / Initial Index Level), subject to the cap

 

(b.)  If the Final Index Level is < the Initial Index Level, then the Index Return will equal:

      Downside Participation x ((Final Index Level – Initial Index Level) / Initial Index Level)

Return at Maturity per $1,000
Principal Amount of Securities:

At maturity you receive $1,000 x (1+ Index Return)

 

Who Should Invest in the ARES®:

 

                  Investors who are bullish on the Reference Index and looking to add exposure to the Reference Index to their portfolio. Investors who are interested in doubling the upside participation in the Reference Index, subject to a cap, and are able to withstand a loss of their investment in the event the Reference Index declines.

 

 

Hypothetical Upside Scenario:

 

                  The Reference Index appreciated by the valuation date:  Investors receive back their initial investment plus 200% of the appreciation of the Reference Index, subject to a cap.

 

 

Hypothetical Downside Scenario:

 

                  The Reference Index depreciated by the valuation date:  Investors participate in 100% of the losses; if the Reference Index declines to 0.00, investors will lose their entire investment.

 

 

 

*Hypothetical scenarios are neither indicators nor guarantees of future index performance. Actual results will vary, perhaps materially from the hypothetical analysis.

 

 

Credit Suisse w Structured Retail Products w 11 Madison Ave, NY, NY 10010 w 1-888-537-4898 w structured.notes@credit-suisse.com

 


 

 

Investment Considerations

 

A purchase of the securities involves risks. This section summarizes certain additional risks relating to the securities. We urge you to read the following information about these risks, together with the information in the preliminary pricing supplement subject to completion dated December 5, 2007, the product supplement dated December 5, 2007, the  prospectus supplement dated May 7, 2007 and the prospectus dated March 29, 2007 before investing in the securities.

 

An investment in ARES® are not principal protected. You may receive less at maturity than you originally invested, or you may receive nothing should the Reference Index decline to zero.

 

The ARES do not pay interest. CSSU will not pay interest on the ARES. Even if the payment at maturity exceeds the principal amount of the ARES, you may receive less at maturity than you could have earned on ordinary interest-bearing debt securities with similar maturities, including other of CSSU  debt securities.

 

The ARES may pay less than the full appreciation of the Reference Index at maturity. If the Reference Index appreciates, your return will be based on two times the percentage increase of the Reference Index, subject to a cap, provided, however, that the index return will not be greater than 200%.

 

An investment in ARES is not the same as an investment in the stocks underlying the Reference Index or a security directly linked to such Index. The payment of dividends on the stocks which comprise, or underlie, a Reference Index has no effect on the calculation of the value of that Reference Index. Accordingly, the Index Return based on the percentage change in the Reference Index is not the same as the total return based on the purchase of those underlying stocks held for a similar period. In addition, you may lose part of your investment even if the Reference Index has risen at certain times during the term of the securities before falling to a level below the initial index level on the date or dates on which the final index level is calculated.

 

The U.S. federal income tax consequences of the securities are uncertain. No ruling is being requested from the Internal revenue Service, or the IRS, with respect to the securities and we cannot assure you that the IRS or any court will agree with the tax treatment described under “Certain United States Federal Income Tax Considerations” in the product and pricing supplements.

 

There may be little or no secondary market for the ARES. The ARES will not be listed on any securities exchange. We cannot assure you that a secondary market for the ARES will develop. CSSU currently intends to make a market in the ARES, although it is not required to do so and may stop making a market at any time. If you have to sell your securities prior to maturity, you may have to sell them at a substantial loss.

 

The market price of the ARES may be influenced by many unpredictable factors. Many factors, most of which are beyond our control, will influence the value of the ARES and the price at which CSSU may be willing to purchase or sell the ARES in the secondary market, including:

 

   The current level of the Reference Index.    Whether the level of the Reference Index has exceeded the cap or has declined below the initial index level.     Interest and yield rates in the market.    The volatility of the Reference Index.    Economic, financial, political and regulatory or judicial events that affect the securities underlying the Reference Indices or stock markets generally and which may affect the appreciation of the Reference Index.    The time remaining to the maturity of the ARES.    The dividend rate on the stocks underlying the Reference Index.    Credit Suisse’s creditworthiness.

 

Some or all of these factors may influence the price that you will receive if you choose to sell your securities prior to maturity. The impact of any of the factors set forth above may enhance or offset some or all of any change resulting from another factor or factors.

 

 

This document is a summary of the terms of the securities and factors that you should consider before deciding to invest in the securities. Credit Suisse Nassau Branch has filed a registration statement (including preliminary pricing supplement, product supplement, prospectus supplement and prospectus) with the Securities and Exchange Commission, or SEC, for the offering to which this offering summary relates. Before you invest, you should read this summary together with the preliminary pricing supplement subject to completion dated December 5, 2007, product supplement dated December 5, 2007, prospectus supplement dated May 7, 2007 and prospectus dated March 29, 2007 to understand fully the terms of the securities and other considerations that are important in making a decision about investing in the securities. You should, in particular, review the “Investment Considerations” section herein and the “Risk Factors” sections of the product supplement and the prospectus supplement, which set forth a number of risks related to the securities. You may get these documents without cost by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, Credit Suisse, any agent or any dealer participating in this offering will arrange to send you the pricing supplement, prospectus supplement and prospectus if you so request by calling toll-free 1 (800) 221-1037.

 

You may access these documents on the SEC website at www.sec.gov by clicking on the hyperlink to the prospectus in this document or as follows:

 

http://www.sec.gov/Archives/edgar/data/1053092/000104746907009737/a2181494z424b2.htm

http://www.sec.gov/Archives/edgar/data/1053092/000104746907009738/a2181495z424b2.htm

http://www.sec.gov/Archives/edgar/data/1053092/000104746907009736/a2181496z424b2.htm

 

 

© 2007 Credit Suisse and its subsidiaries and affiliates. All rights reserved

 

 

 

Credit Suisse w Structured Retail Products w 11 Madison Ave, NY, NY 10010 w 1-888-537-4898 w structured.notes@credit-suisse.com