Nasdaq Welcomes the First Social Structured Product to its Sustainable Debt Market – Issued by Crédit Agricole CIB
Stockholm, November 30, 2021 – Nasdaq (Nasdaq: NDAQ) today announced that Crédit Agricole CIB has listed its first structured product under a Social Bond Framework on the Nasdaq’s Sustainable Debt Market. The listing marks the first Social Structured Product listed on Nasdaq's markets. The instruments are arranged by Garantum, and based on Crédit Agricole’s Social Notes Framework.
“We are delighted to be the first bank to publicly issue equity-linked Social Notes on Nasdaq Stockholm,” said Blake Wright, Senior Country Officer for the Nordic Countries at Crédit Agricole CIB. “We are pleased to offer retail investors the access to a product which was previously only available to institutional investors. As a global leader in sustainable finance, this innovative structured product also allows investors to contribute to the financing of social projects which will make positive impact on society.”
Instruments listed on the Nasdaq Sustainable Debt Market need to meet the Nasdaq Sustainable Bond listing criteria, based on the Green & Social Bond Principles and the Sustainability Bond guidelines, for which the International Capital Market Association act as secretariat.
“Supporting capital raising for projects improving the quality of life is a core purpose of financial markets,” said Ann-Charlotte Eliasson, VP and Head of European Fixed Income Listings at Nasdaq. “We are happy to have worked with Crédit Agricole CIB, Lifewatch and Garantum to launch the first product under the social sustainability product category – and we hope it is the first of many more to come.”
Structured products combine two or more financial instruments into one single security, and offer customized exposure to otherwise hard-to-reach asset classes and subclasses. Returns of this product issued by Crédit Agricole CIB are based on the development of a basket of stocks. The structured product is arranged by Garantum and offer investors the benefits of partial capital protection, while giving exposure towards a selection of companies in the healthcare sector selected in cooperation with the Lifewatch foundation.
“In 2018, Garantum and Crédit Agricole CIB together launched the first structured product based on a green note at Nasdaq Stockholm. Three years later we are happy to once again, together with our partners and clients, break new ground in sustainable investing,” said Mats Eriksson, Structurer at Garantum. “We put a lot of emphasis in making the right product at the right time, and the ability to create an investment with social impact without lowering clients potential return is something that is rather unique of structured products.”
Nasdaq (Nasdaq: NDAQ) is a global technology company serving the capital markets and other industries. Our diverse offering of data, analytics, software and services enables clients to optimize and execute their business vision with confidence. To learn more about the company, technology solutions and career opportunities, visit us on LinkedIn, on Twitter @Nasdaq, or at www.nasdaq.com.
About Crédit Agricole Corporate and Investment Bank (Crédit Agricole CIB)
Crédit Agricole CIB is the corporate and investment banking arm of Credit Agricole Group, the 12th largest banking group worldwide in terms of tier 1 capital (The Banker, July 2021). Nearly 8,600 employees across Europe, the Americas, Asia-Pacific, the Middle East and Africa support the Bank's clients, meeting their financial needs throughout the world. Crédit Agricole CIB offers its large corporate and institutional clients a range of products and services in capital markets activities, investment banking, structured finance, commercial banking and international trade. The Bank is a pioneer in the area of climate finance, and is currently a market leader in this segment with a complete offer for all its clients.
For many years Crédit Agricole CIB has been committed to sustainable development. The Bank was the first French bank to sign the Equator Principles in 2003. It has also been a pioneer in Green Bond markets with the arrangement of public transactions from 2012 for a wide array of issuers (supranational banks, corporates, local authorities, banks) and was one of the co-drafter of Green Bond Principles and of the Social Bond Guidance. Relying on the expertise of a dedicated sustainable banking team and on the strong support of all bankers, Crédit Agricole CIB is one of the most active banks in the Green bonds market.
Garantum is the largest arranger of retail structured products in the Nordics market, offering a broad spectrum of investments tailored to meet each specific investors' needs. Today Garantum’s wealth management offering includes asset management, securities brokerage, structured products and private banking. We believe in empowering financial advisors to create tailored investment portfolios with the right investment at the right time.