We have a new gold ETN in the works from Credit Suisse, which will linked to QGLDI, the Credit Suisse NASDAQ Gold FLOWS (Formula-Linked OverWrite Strategy) 103 Index...
- Credit Suisse Gold Shares Covered Call Exchange Traded Note
According to the filing, the Index measures the return of a "covered call" strategy on the shares of the SPDR Gold Trust by reflecting changes in the price of the GLD Shares and the notional option premiums received from the sale of monthly call options on the GLD Shares less notional trading costs incurred in connection with the covered call strategy. The ETNs will pay a variable monthly Coupon Payment based on the notional option premiums received from the sale of monthly call options on the GLD Shares. Since the amount of any monthly Coupon Payment is uncertain and could be zero, investors should not expect to receive regular periodic interest payments.
As of now, the ticker and launch date have not been announced, but once that is public, I will let you know. In the meantime, you can see similar gold exchange traded products one the...