US Wrap: Metals-based reverse convertibles popular as volumes recover

pouring-hot-metal-at-jindal-steel — Metal producers used for JP Morgan reverse convertibles

Clare Dickinson
11 Aug 2010

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Levels are climbing back to normality for the latest issuance. JP Morgan reverse convertibles have taken a hold of this offering, with metals being the choice underlying.

The first of these is a reverse convertible based on US Steel stock. It is a three-month product that offers annual returns of 12.25%. There is a 75% downside protection barrier; if that is breached capital will be lost at the rate of 1:1.

The overall score for this product barely exceeds the riskmap score, at 5 and 4.9

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