i dont know if any body has noticed but there is a groove at the top end of metallic cap, probably for inserting nail edge so that one can pull the pen out easily. on the third day of getting my phone i figured out a way to do this even with short nails. but i dont think my english is good enough to describe the process with clarity.
so, here's another idea - you can tie a thin thread in that groove (the groove is all around and continuous almost like a neck- a hangman's loop only tighter

believe me the pen is not gonna suffocate- it can take it- being wacom and all , lol), and you can tie the free ends of the resultant knot to anything ( a key chain loop, a spare cufflink - anything with a hole to thread) then you can always pull out your pen if you yank that thread ( i m a med student and so i have heard about some archaic IUDs which women used to use earlier, this mechanism provided them the ease to remove it whenever they needed and also they could check if the device was still there or not - by simply feeling the thread which used to hang)
also there is another modification to the idea- to the key chain loop attached to the thread , you can further loop in one of those old identity card ribbons and this way you can wear it around your neck, incase you are the forget ful kind. use white or chrome finished stuff to not wreck the elegance of your note3 colour scheme or get creative and make it personal with a leather/faux leather tag - with your name like etched on it.
regards.
and while i am writing this reply i would like to ask the adminstrator, why cant i reply to the question i wrote 2 days back, i just wanna say thanks to those who answered.
and by the way - are there any students/professionals who happen to be avid spen warriors who are using the handwriting functionality to the fullest? i would like to join that club.