Structured products are lost in translation post-Libor

Natasha Rega-Jones
26 May 2020

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Mistranslations can be costly. When HSBC rolled out its “Assume nothing” branding campaign globally in 2009, the motto awkwardly translated as “Do nothing” in a number of territories. The doomed tagline was soon scrapped in a fresh $10 million marketing blitz.

Similarly, a change of benchmark is threatening to transform a string of popular structured products into different investments. The switch from Libor to risk-free rates may even cause some structures to break down entirely.

“Libor

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