Credit Suisse debuts structured commodities note

Credit Suisse has launched a novel structured product to help investors access the commodity market. Developed in Hong Kong and sold under the name Cargo 2, the Swiss bank is trumpeting the structure as the world's first long/short collateralised commodity obligation (CCO). The structure is designed to give ratings-driven institutional investors, such as banks and asset managers, an opportunity to diversify out of traditional asset classes with a degree of comfort. Coupon payouts a…