Leveraged return notes based on ETFs add spice in the US

Reverse convertibles continue to dominate structured products registered with the US Securities and Exchange Commission, while ETF underlyings provide the most excitement for those eager to diversify

A pile of coins with two magnifying glasses
RBC files leveraged return note linked to iShares MSCI EAFE ETF

UBS added to its recent reverse convertible filings in the US with eight more products on February 27, bringing its total to 25 in the past week. Barclays Bank and JP Morgan also registered reverse convertibles with the Securities and Exchange Commission (SEC), of which perhaps the most interesting is a one-year product from UBS linked to the performance of Morgan Stanley that pays an annualised rate of 9%.

Linking products to exchange-traded funds (ETFs) is also proving popular, with filings

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