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

Metal producers used for JP Morgan reverse convertibles

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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