US Wrap: Issuers turn to basket-linked products

Baskets of underlyings are used in three products in the latest issuance, and gold and other commodities are popular, perhaps signalling a move away from equities in the US market.

The Principal Protected ProNotes issued by Credit Suisse are based on the iShares Barclays 20+ Year Treasury Bond Fund (25%); the MSCI EAFE Index Fund (10%); the MSCI Emerging Markets Index Fund (5%); the S&P 500 (50%) and the SPDR Gold Trust (10%).

They are five-year notes with a 130% participation rate as long as

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