Unwrapping Russian structures

Since the 1998 stock market crash, Russia’s financial sector has evolved to play host to a derivatives industry sophisticated enough to support the development of retail structured products. As well as introducing offshore products to the local market, Russian banks have also started to create and offer their own structured products.


The issuance of Russia’s first onshore structured bond in June 2009 by investment bank Troika Dialog has added a new wrapper to the traditional deposit, nudging the Russian market one step further in its development. The 18-month product was sized at a modest Rbs176.6 million (US$6.2 million), linked to the benchmark RTS equity index and offered a participation rate of 45%. While the payoff incorporated a simple call structure, the Troika Index Bonds were the first capital-guaranteed structured

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact info@risk.net or view our subscription options here: http://subscriptions.risk.net/subscribe

You are currently unable to copy this content. Please contact info@risk.net to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to Risk.net? View our subscription options

Most read articles loading...

You need to sign in to use this feature. If you don’t have a Risk.net 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 individual account here