Mon, Mar 2, 2015
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Alternative Market Briefing

Credit Suisse launches first covered call gold ETN in the US

Wednesday, January 30, 2013

Bailey McCann, Opalesque New York:

After ringing the opening bell on the NASDAQ in New York City today, Credit Suisse announced the launch of the Gold Shares Covered Call ETN (GLDI). GLDI is the first exchange traded product in the US market to offer investors access to a covered call strategy on a gold investment, and is designed to pay variable monthly coupons. GLDI is an exchange traded note (ETN), which differs slightly from the more common ETF or exchange traded fund, in that it includes some bond-like aspects.

"This is the first time a covered call strategy around gold has been done as an ETN in the US and there are currently no ETFs that offer this type of exposure," explains Greg King, head of exchange traded products in Credit Suisse’s Investment Bank in an interview with Opalesque.

GLDI tracks the Credit Suisse NASDAQ Gold FLOWSTM (Formula-Linked OverWrite Strategy)103 Index, and maintains a notional long position in shares of the SPDR® Gold Trust ETF (GLD) while notionally selling monthly out-of-the-money call options on that position. Holders of GLDI will be entitled to receive variable monthly payments based on the notional option premiums received from the sale of the covered call options each month.

Cr......................

To view our full article Click here

Today's Exclusives Today's Other Voices More Exclusives
Previous Opalesque Exclusives                                  
More Other Voices
Previous Other Voices                                               
Access Alternative Market Briefing


  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. Investing - Seth Klarman of Baupost outlines his investment process as major stock market indices are stretched, Myriad hedge fund sold bulk of its Alibaba stake last year[more]

    Seth Klarman of Baupost outlines his investment process as major stock market indices are stretched From Valuewalk.com: As hedge fund manager Seth Klarman, leader of the $28 billion Baupost Group, reviews 2014 performance and considers investors gained near 7 percent on the year, he cons

  2. Adamas Asset Management and Ping An Insurance to co-manage $500m debt fund[more]

    Komfie Manalo, Opalesque Asia: Hong Kong-based Adamas Asset Management and Ping An Insurance Group, one of China’s largest financial institutions, have finalized a memorandum of und

  3. Opalesque Exclusive: dbSelect’s top ten FX strategies average almost 10% in January[more]

    Benedicte Gravrand, Opalesque Geneva: In one of Deutsche Asset & Wealth Management (AWM)’s hedge fund platforms, called dbSelect, a number of FX Strategies did very well in January. dbSelect is a managed investment platform for unf

  4. Opalesque Exclusive: SEC’s Mark J. Flannery warns hedge funds against valuation misconduct[more]

    Komfie Manalo, Opalesque Asia: Securities and Exchange Commission chief economist and director of Division of Economic and Risk Analysis (DERA) Mark J. Flannery has warned of the risks posed by market misconduct, particularly in the true valuation of assets by hedge fund managers. In his

  5. Dymon Asia's $3bn macro hedge fund lost 10.45% in January[more]

    From Reuters.com: Dymon Asia's $3.1 billion macro hedge fund lost 10.45 percent in January, performance data seen by Reuters showed, a month where many peers lost heavily after a surprise rise in the Swiss franc. Singapore-based Dymon, set up by Danny Yong, a former founding partner and chie