US Wrap: Return to reverse convertibles at week open

Barclays led the pack as usual, issuing over half of new products, with UBS and Wells Fargo making up the rest. The latter opted to use the external credit of Eksportfinans, now that its own triple A rating has been downgraded.

Peabody Energy as a reference stock was doubled up, with UBS offering an 18.5% annualised coupon on the stock over six months at a conversion barrier level of 70% versus the Eksportfinans-backed note, which offers a 16-17% coupon on the same terms.

One of the riskier note

To continue reading...

You need to sign in to use this feature. If you don’t have a Risk.net 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: