A cluster of reverse convertible structured products based on Brazilian stocks and sold in Latin America are being restructured by dealers after their mark-to-market value sunk to levels as low as 20 cents in the dollar. Some dealers are promoting custom replacement and repair strategies to help recoup original investments.
"Many clients are sitting on structures that are trading at a deep discount," says Diego Urrutia, vice-president for equity and derivatives at BNP Paribas in New York. "Client
The week on Risk.net, November 17–24, 2017Receive this by email