US Wrap: Week end fillip with 16 new issues
Issuance finally picked up in the US market yesterday with 16 new products launched by eight providers. S&P 500-linked products remain the firm favourite, with 13 of the launches offering exposure to the index.
Included in the list was a Bank of America deal which will be sold by Merrill Lynch, its latest acquisition. BofA's Capped Leveraged Index Return Notes offer 200% participation in the S&P 500 for 18 months. The maximum coupon will be between 22-25%, and capital is only protected as long as the index does not fall by more than 10% from its level at strike.
Credit Suisse returned with a more conservative US equity play, offering two Cert Plus Securities that have a maximum participation of 125%
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