US Wrap: Barclays returns to reverse convertibles

Clare Dickinson
17 Mar 2010

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Barclays has gone reverse convertible crazy in the latest US issuance and the underlyings are hugely varied.

The Reverse Convertible Notes linked to Eldorado Gold issued by the bank have a high riskmap rating of 7.7, partly due to the volatility of the underlying. The six-month investment offers 9% annual returns. There is a 75% barrier, after which capital is lost at the rate of 1:1.

At the other end of the spectrum, the Barclays Reverse Convertible Notes linked to Vertex Pharmaceuticals have a

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