Commodity broker prints Swissie T2 with stock mart upside

By Owen Sanderson
09 Jul 2020

Marex, a commodity and derivatives broker, has raised tier two capital in the Swiss franc market through a structured note, which it says is the first to combine a tier two host with an embedded structured product — in this case, exposure to the SMI, the Swiss equity market index.

The deal is a 5.5 year note paying a 2.55% coupon with exposure to the upside in the SMI, arranged in partnership with two investment banks that declined to be identified. It will be listed on the Vienna Stock Exchange, but the initial amount has not been disclosed.

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