Blossoming forex

Foreign exchange

Securities houses in Japan have for a long time offered foreign exchange-linked structured products to investors hungry for high yield in the midst of what is a prolonged low interest-rate environment.

Typically, financial institutions have been selling structured products such as Bermudan multi-callable power-reverse dual-currency notes (PRDCs) to securities houses in Japan. PRDCs are principal-protected notes that pay a high initial coupon, ranging from 4-7%, with maturities of 30 years or more

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