March saw HSBC lead the way in US product issuance. The bank marketed 46 products, representing 25% (by notional amount) of all deals issued. Next was Barclays Bank with 35 products and a 16% market share, followed by JP Morgan with 10% of notional sold. The three providers accounted for almost $880 million of notional sold and over 50% of all products issued in March.
The most popular products in the US retail market were leveraged return notes, which accounted for 40.48% of the market. Second