GERMANY - Commerzbank, Germany's third biggest, has teamed up with FTSE to create a new bond certificate open to both German institutional and retail investors.
Commerzbank Europe ZinsPlus is based on the FTSE Euro Corporate Bond Index and gives investors the chance to access investment grade euro denominated bonds. The index contains securities rated from AAA to BBB-, including the likes of BMW, Bayer, Deutsche Telekom and General Electric.
Trading will start on May 30, 2003 and allows Commerzbank clients to invest in more th an 270 of the most liquid corporate bonds in Europe through a single product.
It is created using more than 200 price sources. Performance of the index has increased by 5.84% per annum since 1999.
Serdar Serin of Commerzbank said: “Investors today want to have complete confidence in financial products.
“By using the FTSE European Corporate Bond Index, Commerzbank customers can be assured that the product has the integrity of an independent benchmark, as well as the security offered by one of Germany’s leading banks.”
The minimum subscription for institutions is e100,000.
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