Sapphire sales show buyers still want guaranteed capital

Derivatives dealers have been designing increasingly complex equity-linked structures for the European retail market-place. But it appears that there is limited demand for products that do not offer a capital guarantee. SG, the investment banking arm of Société Générale, appears to have found this out to its cost with Sapphire, part of its new ‘Gemstone’ range of products for 2002. Instead of a guarantee that investors will get 100% of their capital back if stock markets fall, Sapphire offer

To continue reading...

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 indvidual account here: