Credit Suisse issues first long/short CCO notes

Credit Suisse has issued the first long/short collateralised commodity obligation notes. The $190 million issue followed the April 17 publication of Derivative Fitch’s rating criteria for CCOs.

The AAA-rated notes are denominated in US dollar, euro and Australian dollar, across three- and five-year tranches, and offer protected coupon payments. The principal repayments are based on the performance of long and short positions on a portfolio of commodities.

The Swiss bank priced the five- and three

To continue reading...

You need to sign in to use this feature. If you don’t have a Risk.net account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an indvidual account here: