SIX Swiss Exchange, Switzerland’s paramount exchange equities, bonds, investment funds, and exchange-traded-funds (ETFs), has welcomed Raiffeisen Bank as the newest issuer of structured products, per a SIX statement.
Raiffeisen is the third largest bank in Switzerland after UBS and Credit Suisse, with a large portion of the country’s domestic client base. The group has become the latest issuer of structured investment products for the first time in the bank’s history, having previously relied on complementary measures to its customers for over a decade.
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Per the new issuing, Raiffeisen has unveiled its inaugural product for trading, which is a multi-barrier reverse convertible – this product consists of a basket that is composed of Nestle AG (NESN), Novartis AG (NOVN), Roche Holding AG (ROG). The first trading day on SIX Swiss Exchange for the product is presently slated for December 15, 2016.
According to Christoph Landis, Division Chief Executive Officer of SIX Swiss Exchange, in a recent statement on the addition: “I am delighted with this new arrival. With Raiffeisen we are gaining an issuer with local roots in all of Switzerland’s language regions.”