Credit Suisse Debuts ETN That Provides Liquid Exposure

"Historically, merger arbitrage strategies have provided attractive risk-adjusted returns, effectively allowing investors to diversify their equity exposure,” said Michael Clark in a statement. Clark is head of the structured equity derivatives desk in Credit Suisse’s investment bank that is launching the ETN. “[H]owever, complex structures and infrequent liquidity have made this sector difficult to access. We are excited to offer a product which provides liquid access to this strategy, especially in the current volatile market environment."

The ETN is the second in a suite of alternative ETN products; the first is the existing Credit Suisse Long/Short Liquid Index (Net) ETN (NYSE Arca: CSLS).