Alternative indexes are beginning to break down the S&P 500's domination of the US market. Citigroup has launched an accelerated growth note linked to the Dow Jones Industrial Average, which is the first time the underlying has been used since May.
Both Bank of America Merrill Lynch and Goldman Sachs have issued accelerated growth notes linked to the iShares MSCI Eafe Index fund. The S&P 500-linked products on offer were mainly autocallable style notes.
Natixis launched a new reverse convertible