UBI sells strategy-based products to retail in Italy for the first time
The UBI Protezione & Crescita 2017 represents a first for structured products in Italy
UBI Bank distributed €132.5 million of five-year strategy-based structured products in Italy in June. The UBI Protezione & Crescita 2017 was launched on June 18 and is based on a portfolio of Italian government bonds (BTPs), which were placed in a special-purpose vehicle to form the issuer, and the proprietary UBI Pramerica Euro High Dividend strategy. "We did not use bank bonds because we were able to source the relevant government bonds at a very low cost," says Teodor Naoumov, head of
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