JP Morgan continued its run of registering varied structured products with the US Securities and Exchange Commission (SEC) on March 21, with offerings of a straddle, an autocallable and, unusually, a reverse convertible. Goldman Sachs also chimed in with three new products, all of which are leveraged return notes. In all, 10 new products were filed with the US regulator.
JP Morgan's reverse convertible has a short maturity of three months and is linked to Stone Energy. It pays an annualised rate