US Wrap: Property and gold prospects mooted in reverse convertibles

Two new reverse convertibles have been launched for US investors that offer exposure to the prospects of the gold and real estate markets.

Royal Bank of Canada has launched a note linked to the stock of Iamgold, a company that mines the precious metal across three continents. The three-month trade offers an annualised coupon of 32.25% payable monthly, which is very high. Capital will be returned to the investor in full provided the reference equity does not breach a 70% barrier.

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