credit-suisse-debuts-structured-commodities-note

Credit Suisse debuts structured commodities note

The world's first public long/short CCO offers diversification, a triple-A rating and super-charged returns.
Credit Suisse has launched a novel structured product to help investors access the commodity market. Developed in Hong Kong and sold under the name Cargo 2, the Swiss bank is trumpeting the structure as the world's first longshort collateralised commodity obligation CCO.

The structure is designed to give ratings-driven institutional investors, such as banks and asset managers, an opportunity to diversify out of traditional asset classes with a degree of comfort. Coupon payouts are guaranteed and the principal is triple-A rated, but the strategy still provides souped-up returns.

CCO products have been around a while now, says Gunnar Hoest, a director in Credit Suisse's fixed...
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