US Wrap: Reverse convertibles regain their sparkle

ABN Amro issued a single reverse convertible linked to the Diamonds Trust, Series 1, which is an exchange-traded fund replicating the performance of the Dow Jones Industrial Average. The note lasts six months and pays a 10-14% annualised coupon, with a 75% downside barrier, and offers a different play on US equity. The note carries the branding of Morgan Stanley which is selling the product.

Unusually, Russell 2000-linked products were as common as investments based on the S&P 500 index. Barclays

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