RBC offers exposure to BP through structured products
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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