FWP 1 a08-22334_1fwp.htm FWP

 

Free Writing Prospectus
Filed Pursuant to Rule 433
Registration No. 333-132936-14
August 28, 2008

 

 

This must be used in conjunction with the offering
documents and may only be distributed with the
preliminary pricing supplement No. I4 dated August 28, 2008.

 

 

 

 

 


 

STRUCTURED PRODUCTS

 

 

 

 

 

 

Currency Linked Principal Protected Notes (ProNotes®)

 

¡     Linked to a Basket of Exchange Rates

 

¡     Due September 30, 2010 | 100% Protection | 200% Participation

 

 

 

 

 

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 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 pricing supplement No. I4 subject to completion dated August 28, 2008, product supplement No. 3IIC dated July 8, 2008, prospectus supplement dated March 24, 2008 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” section of the product 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, product supplement, prospectus supplement and prospectus if you so request by calling toll-free 1 (800) 221-1037.

 

 

You may access the preliminary pricing supplement at:

http://www.sec.gov/Archives/edgar/data/1053092/000104746908009774/a2187671z424b2.htm

 

 

Indicative Terms, August 28, 2008 (Subject to Change)

CS Emerging Market Basket vs. USD PRONOTES OVERVIEW

 

Currency Linked ProNotes® (the “ProNotes” or the “securities”) allow investors to receive at maturity 100% Principal Protection plus 200% Participation in the performance of a basket of exchange rates.  The return on the securities has no caps, calls or averaging. 

 

 

INDICATIVE PRODUCT TERMS:

 

 

 

 

 

Security Codes:

CUSIP: 22546EDQ4 / ISIN: US22546EDQ44

 

Basket Return:

If the Final Basket Level is > 1.00 the Basket Return

Issuer:

Credit Suisse Nassau Branch (Aa1/AA-)*

 

 

will equal:

Distributor:

Credit Suisse Securities (USA) LLC

 

 

Upside Participation * (Final Basket Level - Initial

Aggregate Amount:

USD TBD

 

 

Basket Level) / Initial Basket Level

Denomination:

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

 

 

 

 

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

 

 

If the Final Basket Level is < 1.00 the Basket Return

Principal

100.00% at maturity

 

 

will equal zero

Protection:

 

 

Redemption

You will receive a redemption amount in cash at

Upside

200%

 

Amount at

maturity that will equal the principal amount of your

Participation:

 

 

Maturity:

securities multiplied by the sum of 1 + Basket Return

Initial Basket Level:

1.0

 

 

 

Final Basket Level:

Closing level of the Underlying Basket on the

 

RELEVANT DATES:

 

Valuation Date

 

Trade Date:

Expected to be September 25, 2008

 

n:     4

Wi:   Weighting (see table above)

 

Settlement Date:

Expected to be September 30, 2008

 

Valuation Date:

September 27, 2010

 

Maturity Date:

September 30, 2010, subject to postponement if a market disruption event occurs on the valuation date

 

 

 

 

Ii:     CCYi/USD foreign exchange rate expressed as the number of USD per CCYi 1.00 (see table below)

Fi:    CCYi/USD foreign exchange rate expressed as the number of USD per CCYi 1.00 (see table above) as determined by the Calculation Agent at the corresponding Fixing Time on the Valuation Date.   If no rate is published on the Valuation Date, the relevant level shall be determined by the Calculation Agent in a commercially reasonable manner.

 

* A credit rating is not a recommendation to buy, sell or hold the securities, and may be subject to revision or withdrawal at any time by the assigning rating agency.  Each credit rating should be evaluated independently of any other credit rating.  Any rating assigned to the securities does not enhance, affect or address the likely performance of the securities other than the ability of the Issuer to meet their obligations.

 

UNDERLYING BASKET:

 

 

 

 

 

 

 

I

CCYi

Description

Wi

Fixing Source

Fixing Time

Ii

1

BRL

Brazilian Real

25%

“Ask” Price on Bloomberg: BZFXPTAX <CURNCY>

6:00pm, New York

TBD

2

RUB

Russian Ruble

25%

http://www.cme.com/prd/fx/ruble-rate.html

12:30pm, Moscow

TBD

3

AUD

Australian Dollar

25%

Reuters WMRSPOT12 page

4:00pm, London

TBD

4

ZAR

S. African Rand

25%

Reuters WMRSPOT17 page

4:00pm, London

TBD

 

 

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

 


 

STRUCTURED PRODUCTS

 

 

 

 

 

 

PRODUCT SNAPSHOT

 

 

 

 

Who Should Invest in the ProNotes®?:

 

¡

Investors who are conservatively bullish on the Brazilian Real, Russian Ruble, Australian Dollar, and South African Rand against the US Dollar and are looking to benefit from 100% capital protection and 200% Underlying Basket upside over a medium-term time frame.

 

 

 

 

Hypothetical Upside Scenario:

 

 

¡

On the maturity date, the Underlying Basket has appreciated and the Basket Return was positive.  In this case, investors will receive back their initial investment plus 200% of the appreciation of the Basket Return.

 

 

 

 

 

 

Hypothetical Downside Scenario:

 

¡

On the maturity date, the Underlying Basket has declined and the Basket Return was negative.  In this case, investors will receive back only their initial investment.

 

 

 

 

 

 

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

 

 

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

 


 

 

 

Investment Considerations

 

A purchase of the ProNotes involves risks. This section summarizes certain additional risks relating to the ProNotes. We urge you to read the following information about these risks, together with the information in the preliminary pricing supplement No. I4 dated August 28, 2008, the product supplement No. 3IIC dated July 8, 2008, the prospectus supplement dated March 24, 2008 and the prospectus dated March 24, 2007.

 

You may not receive more than the principal amount of your securities at maturity.  If the final basket level is less than or equal to one, you will receive only the principal amount of the securities you hold at maturity.  This is true even if the basket level was greater than one at some time during the life of the securities but later falls to or below one on the valuation date.

 

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

 

Exchange rates may fluctuate over time.  Over the term of the securities, the U.S. dollar exchange rates for the reference currencies may fluctuate significantly and may at all times prior to the valuation date be greater than or less than the relevant rate of exchange on the date the securities are priced for initial sale.

 

There may be little or no secondary market for the ProNotes.  The ProNotes will not be listed on any securities exchange.  We cannot assure you that a secondary market for the ProNotes will develop.  Credit Suisse Securities (USA) LLC currently intends to make a market in the ProNotes, 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 ProNotes may be influenced by many unpredictable factors. Many factors, most of which are beyond our control, will influence the value of the ProNotes and the price at which Credit Suisse Securities (USA) LLC may be willing to purchase or sell the ProNotes in the secondary market, including:

 

·

The current level of the reference currencies.

 

 

·

Interest and yield rates in the market.

 

 

·

The volatility of the reference currencies.

 

 

·

Economic, financial, political and regulatory or judicial events that affect the reference currencies or the U.S. dollar or the economies of the originating countries of the reference currencies or the United States.

 

 

·

The time remaining to the maturity of the securities.

 

 

·

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.

 

 

@ 2008 Credit Suisse and/or its affiliates.  All rights reserved.

 

 

 

 

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