US Wrap: Royal Bank of Canada unleashes 20 new reverse convertibles
Royal Bank of Canada rushed into the issuance market last Friday with the release of 20 reverse convertibles, based on the fortunes of a whole range US stocks, from General Electric to Google and including the bold move of relating products to financials Goldman Sachs, JP Morgan, US Bancorp and Wells Fargo. The remainder of issuance included more reverse convertibles, from JP Morgan and Morgan Stanley, with the sole accelerated growth product emitted by Deutsche Bank. The growth product carries an 18-month tenor, with the recons mainly three months mixed in with a couple of six-month products.
Issuer
Product type
Underlying(s)
Pricing date
Maturity date
Morgan Stanley
Reverse Convertible
Goldman Sachs
Mar 24 2009
Sep 28 2009
J P Morgan Chase
Reverse Convertible
Wells Fargo & Co
Mar 18 2009
Jun 23 2009
Deutsche Bank AG
Accelerated Growth
iShares Dow Jones US Real Estate Index
Mar 20 2009
Sep 27 2010
Royal Bank of Canada
Reverse Convertible
Exxon Mobil Corp
Mar 26 2009
Sep 30 2009
Royal Bank of Canada
Reverse Convertible
3M Co
Mar 26 2009
Sep 30 2009
Royal Bank of Canada
Reverse Convertible
US Bancorp
Mar 26 2009
Jun 30
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