Credit Suisse launches exchange-traded notes linked to Credit Suisse Long/Short Liquid index

By Jennifer Chiou

New York, Feb. 22 - Credit Suisse AG announced that U.S. investors, for the first time, will be able to access the Credit Suisse/Tremont Long/Short Equity Hedge Fund index strategy through an exchange-traded product.

According to a company news release, Credit Suisse's investment banking division is launching an exchange-traded note on one of the Asset Management Liquid Alternative Beta indexes.

The Credit Suisse Long/Short Liquid Index (Net) ETN (NYSE Arca: CSLS) is designed to correlate to the historical performance of the Credit Suisse Tremont Long/Short Equity Hedge Fund index by tracking the performance of non-hedge fund, transparent market measures, the release stated.

The ETN does not invest directly in hedge funds and, therefore, does not have the risks usually associated with hedge funds, the bank added.

Michael G. Clark, head of structured retail products, noted: "Credit Suisse/Tremont was a pioneer in the measurement of alternative beta over a decade ago, and we are now leveraging this expertise to meet the growing demand for liquid, cost-efficient, alternative products."

The financial services provider is based in Zurich.

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