US Wrap: Calm after reverse convertible storm
Product issuance returned to its usual flow in the US market yesterday, with only three new reverse convertible notes coming in the wake of Barclays' 46 earlier in the week.
Two of the notes came once again from Barclays, with the third issued by Eksportfinans and to be sold by Morgan Stanley. The six-month note was linked to the stock of Wells Fargo and will pay an annualised coupon of between 14.5-18.5%, with the exact level to be set at pricing.
Deutsche Bank launched a six-month accelerated growth play on the S&P 500 which offers 200% participation in the index up
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