US Wrap: Multiple underlyings return amid easing correlation

Credit Suisse has launched an accelerated growth product linked to the S&P 500, Nikkei 225 and DJ Eurostoxx 50, as willingness to take on correlation risk slowly returns among investors and issuers.

World basket style products became rare following the financial crisis after inter-index correlation went up sharply. However, as it has begun to return to more normal levels in 2010, the products are gradually becoming more frequent. Credit Suisse has still overlaid capital protection on the basket,