US Wrap: Barclays Bank leads the pack with riot of reverse convertibles

Morgan Stanley and General Electric were the underlying for notes issued by Barclays and Wachovia. Unusually, even with the additional credit security, Wachovia managed to pay a higher coupon of 17-18% annualised, on a note linked to Research in Motion, against Barclays' 15% on stock from the same company. The only mitigation is that the stock conversion barrier is 5% higher on the Wachovia product, at 70%.

The prevailing theme was energy, which made up over a third of new issuance in its various

To continue reading...

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