US Wrap: Reverse convertibles come bouncing back

Two other reverse convertible notes were issued into the space by as many providers, both using their own credit: Morgan Stanley and Citigroup. Morgan Stanley also linked its note to the US Oil Fund - with a 60% barrier and a six-month life, the annualised coupon is 20.1%. This is against Barclay's 14.75% with the same terms and underlying.


Product type


Pricing date

Maturity date

Barclays Bank

Reverse Convertible

John Deere

Feb 10 2009

Aug 13 2009


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