US wrap: Baskets of underlyings provide diverse products

Baskets of underlyings feature in US issuance

While reverse convertibles make up the majority of the latest issuance, benchmark indexes and basket products also feature strongly. Credit Suisse has issued two principal-protected basket products, offering exposure to the same group of underlyings.

The Principal Protected ProNotes are a five-year product, based on the iShares Barclays Tips Bond Fund (ETF), iShares MSCI EAFE Index Fund, iShares MSCI Emerging Markets Index Fund, S&P-500, SPDR Gold Trust.

Having an exchange-traded fund (ETF) as a