Look Back

Issuer credit quality is the only game in town, and that means all of those exotic, interesting and even exciting structured products have been waylaid. We expect them back, but in the meantime it seemed expedient to pop on a cagoule and a stout pair of galoshes and delve into the details of The Rainy Day Savings Account, a product that almost made it to market in the summer of 2003.

A one-year product that paid interest on a sliding scale depending on the amount of rain recorded at London