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Schildershoven Global Bonds Value Harvester Certificates

The Certificates are perpetual notes issued by Credit Suisse International, London.
The Certificates are linked to the performance of Schildershoven proprietary actively managed strategy (Index) for globally diversified high yield bond portfolio.
Daily liquidity of the Сertificates is guaranteed by by Credit Suisse International.

Investment in the Schildershoven actively managed strategy (Index) is available in 2 options:

Open End Tracker Notes – these notes enable the investor to participate in the performance of the Schildershoven Global Bonds Value Harvester Index

Open End Constant Leverage Notes – these notes enable the investor to participate in the 2x leveraged performance of the Index with the embedded funding cost at the rate of 3M USD Libor + 0.90% p.a.

Schildershoven Global Bonds Value Harvester Index

Index value: as of // download monthly reports
Relative Performance

Product Details

Open End Tracker Notes
ISIN XS1093388343
VALOREN 23717924
Open End Constant Leverage Notes
ISIN XS1093387709
VALOREN 23717923
Issuer Credit Suisse International, London (A1/A/A)
Lead Manager/Dealer Credit Suisse International, London
Paying Agent Bank of New York Mellon, London
Calculation Agent Credit Suisse International, London
Co-Structurer Credit Suisse AG, Zurich
Index Rebalancing Agent FP Wealth Solutions SA, Geneva
Denomination USD 1,000 (“Nominal“) per Note
Issue Price 100% of the Denomination
Underlying A notional investment in the Schildershoven Global Bonds Value Harvester Index
Inception Date 1 October 2014
Minimum Subscription Lot Switzerland: 1 Note; EEA, Investors: 150 Notes
Management Fee 1%
Performance Fee 10% subject to High Water Mark
Subscriptions/ Redemptions Monthly, for primary market subscriptions
Index Diversification Requirements
Per Issuer Maximum 4%, provided that the largest 10 issuers may also in aggregate not exceed 30%
Per Country Maximum 40% in US
Maximum 30% in any other developed country
Maximum 25% in each BRIC country
Maximum 15% in any other emerging market country
Per Region  Maximum 40% in each “North America”, “Europe”, “Developed Asia”, “Latin America”, “Emerging Europe” and “Emerging Asia”
Maximum 25% in “Africa and Middle East”
Allocations to ETFs  Maximum 20% which should otherwise adhere with the above
Allocations to a single issue Total holding in % of total issuance size of the relevant bond
Minimum number of investments 5
Credit Ratings At least Standard & Poor’s rating of B or equivalent from Moody's and Fitch, subject to a minimum allocation of 40% to bonds with a Standard & Poor’s rating of at least BB- or equivalent from Moody's and Fitch
Weight of USD-denominated assets minimum 40%

Strategy Highlights

Target Investments and investing Geography:
High yield bonds of issuers from emerging and developed countries, denominated in USD, EUR, CHF and GBP no no specific focus on individual regions, sectors or issuers.

Maximization of total absolute return resulting from a combination of capital gains and coupon yields by way of selection of undervalued fixed income instruments and active portfolio rebalancing with due risk management and control. Combination of event-driven and carry investments.


Purchase and sale of the Certificates is similar to purchase and sale of Eurobonds. The Certificates are fully transferable in Euroclear and Clearstream.


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