Credit Suisse latest to join US ETN crowd
Credit Suisse has launched the first note from its new Elements exchange-traded note (ETN) platform. The notes began trading on the Arca platform of the New York Stock Exchange yesterday.
The note is linked to the Credit Suisse Global Warming Index, which comprises the 50 highest ranking stocks of companies in the business of tackling climate change, using the bank’s proprietary Holt methodology. The strategy assesses companies in the sector on three different criteria: corporate performance, a discounted cashflow valuation and market sentiment. The index is calculated by Standard & Poor’s and rebalanced twice a year.
The bank is the seventh issuer to enter the US ETN market
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