US Wrap: Spectrum of risk profiles offered on S&P 500
Six new issues were launched into the US market before the weekend by four issuers. The S&P 500 continues to dominate issuance, with four of the products offering exposure to the index.
Bank of America launched two investments linked to the S&P 500: a product which is 100% principal protected at its five-year maturity, and a less conservative review structure with a 10% buffer. The capital guaranteed product has a cap of 40-50% and uses the average of the index's performance over the last five days of the product's life to determine its closing level, which protects investors from any sudden falls on the last day. Both products will be sold by Merrill Lynch.
Merrill Lynch will
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