Calyon to launch new Ocean note series

News in brief

Calyon is to launch the first issue of the Ocean series this month. The Ocean note series will be issued through a $5 billion programme that targets a range of risk profiles. The underlying portfolio is managed by Axa Investment Managers Paris (Axa IM) by the application of leveraged participation in a credit portfolio. Ocean's underlying portfolio combines long and short credit exposures through credit default swaps on single names and indexes, and cash bonds in investment-grade and high-yield

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