Norwich & Peterborough exits structured products market citing poor pricing

Norwich & Peterborough exits the structured products market

UK mutual society the Norwich and Peterborough (N&P) has pulled out of the structured products market, saying the returns and counterparty diversification the products offer are not good enough. “We have looked at what structured products have achieved and what terms have been available and there have been some great rates due to volatility being high,” says Paul Orrey, product manager at N&P in Peterborough.

However, with volatility levels falling, the pricing of structured products is no longer