Issuance has shifted back to reverse convertibles, mainly issued by JP Morgan, which has been a growing presence in the market in recent offerings. Two of its products are based on the stocks of large US banks.
One of these products is a one-year reverse convertible based on Goldman Sachs. It pays an annual return of 10.25% and has a 75% downside barrier after which capital is lost at the rate of 1:1.
The riskmap rating on the product is 4.2, which is a moderately low score, reflected by the fac