Financials and tourism the latest picks for US structured product underlyings

The cruise ship MS Azura
UBS files reverse convertible based on holiday cruise firm

Financials were a recurring underlying for the latest raft of structured products registered with the US Securities and Exchange Commission for the week ending May 11, with UBS filing four reverse convertibles linked to Bank of America Merrill Lynch (BAML) and JP Morgan selecting BAML as the underlying for a straddle product that offers investors 100% upside participation and a 70% downside protection barrier.

Bank of Montreal went for a short but high-paying three-month reverse convertible link

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