US wrap: Return to the benchmark index

Goldman Sachs leads issuance

The latest issuance hails the return of the benchmark index and not a reverse convertible in sight. It is another smaller offering and four out of the five products come from Goldman Sachs, which does not usually dominate in the issuance stakes.

The issues are all accelerated growth products with one exception, a review product on the S&P 500. The Goldman Sachs product has a one-year term and there is a review date every month. If on any of these review dates the index is at or above its strike,