Thu, Jun 21, 2018
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Alternative Market Briefing

Credit Suisse launches covered call silver ETN - second metals ETN this year

Thursday, April 18, 2013

Bailey McCann, Opalesque New York: Credit Suisse has launched its second covered call metals ETN of the year. The Credit Suisse Silver Shares Covered Call ETN (SLVO) went live on the NASDAQ today. Opalesque first reported on the launch of their inaugural covered call gold ETN - GLDI - which went live at the end of January. SLVO is the first exchange traded product in the US market to offer investors access to a covered call strategy on a silver investment and is designed to pay variable monthly coupons.

The new product is linked to the Credit Suisse NASDAQ Silver FLOWSTM 106 Index. SLVO, which tracks the Credit Suisse NASDAQ Silver FLOWSTM (Formula-Linked OverWrite Strategy) 106 Index, seeks to implement a rolling covered call investment strategy by maintaining a notional long position in shares of the iShares Silver Trust ETF (SLV) while notionally selling monthly out-of-the-money call options on that position. Holders of SLVO 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.

Credit Suisse partnered with NASDAQ OMX in creating the FLOWSTM suite of indices that the ETN tracks.

"Precious metals investments do not typically provide any current income. For the GLDI and SLVO ETNs however, this is not the case," said Greg King, head of exchange tra......................

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. Paper: The performance of stocks actively pitched by hedge funds[more]

    Using a novel dataset drawn from investment conferences from 2008 to 2013, I show that hedge funds take advantage of the publicity of these conferences to strategically release their book information to drive market demand. Specifically, hedge funds sell pitched stocks after the conferences to ta

  2. North America - US fundraising for special purpose acquisition vehicles hits record this year[more]

    From AFR.com: Special purpose acquisition vehicles (spacs) are hitting the US market at the fastest rate on record, attracting the likes of Goldman Sachs and hedge fund investor Daniel Loeb for the two largest such deals in 2018. Spacs have raised $US4.5bn so far in 2018, the largest amount fo

  3. Investing - Man Group and AQR try to take aim at private equity industry, Hedge funds poised to be winners in AT&T-Time Warner deal[more]

    Man Group and AQR try to take aim at private equity industry From FT.com: The popularity of private equity investments has prompted asset managers such as Man Group and AQR to devise strategies that aim to replicate PE returns but at a much lower cost to investors. Both companies a

  4. News Briefs: David Stemerman's hedge fund holdings shrank before his run for governor, nvestment manager TSW triggers succession plan, Alan Howard joins Peter Thiel investing in Cologne-based fintech startup[more]

    David Stemerman's hedge fund holdings shrank before his run for governor But the U.S. holdings of Stemerman's Greenwich hedge fund, Conatus Capital, shrank from $2.6 billion at the apex to just over $1 billion before he announced his move into politics. (Hartford Courant) Inv

  5. British Empire: Pershing's 23% discount 'unsustainable'[more]

    From Citywire: The wide discount on Pershing Square Holdings (PSH) is 'unsustainable' and puts star hedge fund manager Bill Ackman under pressure, says British Empire (BTEM). Pershing is the third largest holding in the £850 million British Empire trust, managed by Joe Bauernfreund, which sp