Tenors stretched as banks struggle to structure products in current environment

Goldman Sachs issues six-year Dow Jones product

The week's offerings so far have been mixed, with a large amount of US equity exposure offered but also several single emerging markets products from HSBC. There have also been some extended tenors as the environment for structuring products continues to be challenging.

The latest offering saw a six-year principal-protected product, a very long maturity for the US market where six-month to two-year terms usually dominate.

Principal-protected notes are rare in the US, particularly with the low ra

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