US Wrap: Reverse convertibles regain their sparkle
Reverse convertibles made their first appearance of the week in the US market, linked to a myriad of underlyings including the Diamonds Trust. Review products were also in the assortment, ending several days of dominance by accelerated growth products.
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.
Unusua
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