Nervy Korean autocall investors lean on lizards
After volatility surge, buyers give up coupons for better chance of early redemption
South Korea’s retail structured products market is booming again, but rather than taking the higher coupons on offer after equity volatility surged in February, wary investors are sacrificing upside for extra layers of protection.
Issuance of so-called ‘lizards’ – touted as safer versions of popular autocallable products – leapt in March to the highest level in 15 months, making up a third of the
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