US Wrap: Issuers hit the accelerator
The US structured products market saw a bumper day of issuance yesterday, including five accelerated growth products from JP Morgan and 10 reverse convertibles from Barclays Bank. In total, 22 products were launched by six providers in one of the year's busiest sessions.
Four of the JP Morgan accelerated growth structures link to the S&P 500 index, while the fifth provides exposure to the iShares MSCI Eafe Index Fund. The products are fairly similar and offer 200% or 300% participation over a period of one year or 18 months, with upside caps ranging between 18% and 27.25%. Deutsche Bank, Credit Suisse and Goldman Sachs also issued accelerated growth structures linked to the S&P 500, with Goldman issuing an MSCI Eafe-linked product too. Royal Bank of Canada made
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