US Wrap: Barclays returns to reverse convertibles

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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