Sophia Morrell
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Articles by Sophia Morrell
Meteor launches Prima Growth Plan 16
Meteor, the UK distributor, has launched the sixteenth version of its Prima Growth Plan which has been issued by AAA-rated Rabobank. The kick-out style product has the potential to pay a 10% coupon after one year, paying the return on its first…
US Wrap: Deutsche offers emerging markets funds play
Deutsche Bank has launched an emerging markets note which links to two exchange-traded funds based on Brazil and China, amid a busy start to the week for the US market. The structure gives investors 100% equally weighted participation in the iShares FTSE…
S&P launches Ucits version of commodities index
Standard & Poor's has launched a new version of its Goldman Sachs Commodity Index (GSCI) which is compliant with the Undertakings for Collective Investments in Transferable Securities European Directive III (Ucits III). The latest index will use caps to…
US Wrap: Providers opt for external credit
Providers were looking to independent credit agencies to issue structured products as the US structured products market hit mid-week. Both Goldman Sachs and Morgan Stanley teamed up with Eksportfinans to issue their latest products, which included an…
US Wrap: RBC turns Japanese on long-term note
Royal Bank of Canada has launched a new principal protected note linked to three indexes, including the Nikkei 225 Japanese equity benchmark. The structure lasts six-and-a-half years and also links to the S&P 500 and Dow Jones Euro Stoxx, with equal…
US Wrap: Gas and gold in reverse convertibles
Barclays Bank has issued a reverse convertible note offering exposure to the US Natural Gas Fund, which tracks the movements of natural gas prices. The note lasts one year and pays an annualised coupon of 20%. It will convert into stock if the fund slips…
US Wrap: RBC moots real estate rebound
Royal Bank of Canada has launched an accelerated growth note linking to the iShares Dow Jones US Real Estate Index. The bullish trade offers 300% participation in the index over only six months, up to a cap of 39%. It does not incorporate any downside…
US Wrap: JP Morgan launches kickout on gold equity fund
JP Morgan has unveiled a new autocallable note linked to the Market Vectors Gold Mining ETF. The 18-month investment will pay a coupon of 5.25-6.25% if the fund is at 100% of its initial level after three months. If not, the product will continue to its…
Size matters at Lyxor
Lyxor has been building its exchange-traded fund business for eight years and now boasts EUR24.4 billion of assets under management - almost a quarter of the European market. What began as a single offering on the CAC 40 now aims to be a complete toolbox…
Baird steps forward
US distributor RW Baird founded its structured products business in 2007 from a standing start, building the infrastructure, compliance and educational initiatives from scratch. Sophia Morrell talks to Dayna Kleinman, the company's vice-president of…
Powell departs Arc Capital
Chris Powell has departed Arc Capital and Income (ACI), the UK structured products distributor, where he was managing director. Powell has left the company with immediate effect to pursue other avenues in financial services, says ACI. His replacement has…
US Wrap: S&P 500 still dominates growth products
The S&P 500 continues to dominate growth products, despite the illusion of index diversity. Morgan Stanley launched a three-year leveraged participation note ahead of the weekend which linked to three indexes: the S&P 500, the Nasdaq 100 and the MSCI…
Testing the metal
Interest in physically backed exchange-traded gold products boomed last quarter on the back of counterparty risk fears. But the industry is divided on what impact the surge of inflows had on the physical gold market's prices. Could the same effect now be…
Wrap it up and start again
Marketing structured products is a tough challenge, with both nascent and established markets battered by the Lehman Brothers collapse. Meanwhile, providers must also adapt their techniques to suit interactive and online channels, and be increasingly…
US Wrap: JP Morgan furthers reverse convertible comeback
JP Morgan kicked off the week by launching 12 reverse convertible notes into the US market yesterday. The former favourite structure of the space appears to be making a comeback after market volatility suppressed volumes last year, as the product…
US Wrap: ABN rounds off week of reverse convertibles with final note
The flood of reverse convertibles put into the US market on Thursday slowed to a trickle by the end of the week, as ABN Amro launched one note into the space linked to the stock of General Electric. The bank was a dominant presence in the reverse…
US Wrap: ABN Amro dominates, offering 16 new reverse convertibles
ABN Amro burst into life yesterday, dominating structured products issuance in the US, launching 16 of the 19 new deals - all reverse convertibles, based on wide range of themes, including commodities, the consumer retail market, and financials. Oil and…
US Wrap: Mid-week lull favours S&P 500
Only three new products were launched into the US market yesterday, a third of the previous day's issuance. Reverse convertibles were notably absent, replaced instead with two autocallable products and an accelerated growth structure all linked to the S…