US Wrap: Goldman Sachs pushes boundaries of downside gearing

S&P 500-linked products came to dominate market activity at the end of last week, representing three out of only four structures issued. Bank of America offered the highest participation rate in the S&P at 300% over one year, with an upside cap of between 19-23%. Citigroup's was set at 200% over two years, and a subsequently higher ceiling of 30-34% set on returns. The structure also incorporates a 10% downside buffer.


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