US wrap: All roads lead to the S&P 500
US issuance is continuing its recent trend of small offerings featuring a variety of product types. In terms of underlyings, however, the benchmark S&P 500 index is used in every product in the latest issuance, with the exception of one reverse convertible.
Two review products are based on the S&P 500. This product type is relatively unpopular in the US market, where reverse convertibles and accelerated growth products account for the majority of issuance volumes.
The first review product is the
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