US Wrap: RBS issues metals and bank-based reverse convertibles

Mining companies used in RBS reverse convertibles

The latest issuance in the US market includes a series of Royal Bank of Scotland reverse convertibles, with the frequently used themes of metals and banks used as underlyings.

There are two products based on Bank of America stock to come from RBS. One of these is a six-month product that offers a 12% annualised return and has a 75% downside protection barrier, after which capital is lost at the rate of 1:1. The scores on this product are 6.1 overall and 4.1 for the risk map.

The other RBS produc