US Wrap: Growth products turn back to S&P 500

Three growth products were launched yesterday all linked to the S&P 500 index, rolling back the broadening of underlyings seen towards the end of last week. JP Morgan and Bank of America (BofA) both issued notes, with two offering leveraged participation in the index.

BofA's note showed how structuring margins are currently constrained by market conditions, as a 10% downside buffer leaves the investor with a participation rate of 134.2%. However, the three year investment has no upside cap. JP Morgan's leveraged note offers a participation rate of 200% over one year with an upside cap of 17.5% and the same downside protection as BofA's note.

Issuer

Product type

Underlying

Pricing date

Maturity date

JP Morgan Chase

Accelerated Growth

S&P

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