US Wrap: JP Morgan offers fund basket exposure
JP Morgan has launched a note linked to the performance of international, emerging market and US equity funds. Investors will participate 200% in fund gains over one year, with 7% downside protection. The US equity component, the iShares Russell 3000 index fund, is weighted most heavily making up 50% of the basket, and returns are capped at 20%.
Barclays unveiled a reverse convertible which was unusually long-term at two years. It is linked to Freeport McMoran equity and pays a 13.8% annualised coupon, with a 60% conversion barrier.
Issuer
Product type
Underlying(s)
Pricing date
Maturity date
HSBC USA
Accelerated Growth
S&P 500
May 29 2009
Jun 16 2010
Barclays Bank
Reverse Convertible
Freeport McMoran
May 21 2009
May 27 2011
J P Morgan
Accelerated Growth
iShares MSCI EAFE Index Fund, iShares MSCI Emerging Markets Index Fund, iShares Russell 3000 Index
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