US Wrap: ABN Amro joins Barclays in reverse convertible rally

ABN Amro has issued 11 six-month reverse convertibles, offering annualised coupons that range between 10.75% and 14.75%, and have conversion barriers of between 75–85%. Issuance includes names already in the market, such as Goldcorp and Hartford Financial Services Group. Morgan Stanley opted for a more cautious principal protected note that lasts six years. The product incorporates two underlyings – the S&P 500 weighted at 70% of the basket, and the iShares MSCI Eafe Index Fun

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