After deviating into a variety of product structures in recent issuances, the US market has returned to its love affair with the reverse convertible in the latest offering. One of these, issued by Barclays, is based on the MSCI Brazil Index Fund.
This is unusual for the US market, where reverse convertibles tend to be based on the stock of a single company. This product is more in line with the type of reverse convertible offered in the UK, where they are usually based on an index.
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