RBC offers exposure to BP through structured products
BP used for RBC reverse convertible
Investors in the US can now buy BP using structured products, thanks to the Royal Bank of Canada (RBC), which yesterday issued a reverse convertible linked to the oil giant. BP's shares fell to a 13-year low on the London Stock Exchange on the same day, although its US shares fared better, having gained 1.2% in recent trading.
The RBC product is a three-month reverse convertible that pays an annual rate of 24.75%. It has a 65% protection barrier, after which principal will be lost at the rate of
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