Dealers rush to redeem high-yielding structured notes

An estimated $60 billion of structured notes are at risk of being called before year-end


The plunge in US interest rates has prompted dealers to redeem huge amounts of high-yielding structured notes that were sold after the Federal Reserve began tightening monetary policy in 2016.

A Hong Kong-based trader at one bank estimates his employer has called “tens of billions” of dollars of such notes in the past three months, with more expected before the year-end. And with newly issued notes yielding 1–2% less than before, investors in the products – which are popular in Asia – are

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact or view our subscription options here:

You are currently unable to copy this content. Please contact to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to View our subscription options


Want to know what’s included in our free membership? Click here

This address will be used to create your account

You need to sign in to use this feature. If you don’t have a account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here