A cobalt-copper top spin valve was prepared by thermal evaporation of a stack of ferromagnetic thin films separated by thin layers of the diamagnetic metal, with a cap layer containing an antiferromagnetic (AFM) exchange-biasing material. A nonconventional top AFM layer was used, in order to optimize the multilayer roughness and to avoid electrical interference with metallic layers; it consists of a composite material easily processed by means of optical lithography, basically a polymeric matrix composite with a dispersion of nickel oxide microparticles. Magnetization and magnetoresistance measurements were performed from 4 to 300 K. The measurements of both quantities indicate random pinning action of the top AFM layer, resulting in a small exchange-bias field and in asymmetric magnetization and magnetoresistance curves. A simple model explains the observed physical effects.