US Wrap: Barclays reverses from convertibles into growth
Barclays Bank has released an accelerated growth chaser to the plethora of reverse convertible notes it has launched over the past week. The note is one of the emerging markets plays now beginning to make more regular appearances in the market as investor appetite revives. The note offers 200% participation in the iShares MSCI Emerging Markets Fund over two-and-a-half years, up to a capped return of 50-66%. The note incorporates a 10% downside buffer.
Royal Bank of Canada launched two reverse convertible notes, bringing its latest issuance bout of the structures to 18. Both the investments offer exposure to the performance of financial stock.
Issuer
Product type
Underlying
Pricing date
Maturity date
HSBC USA INC
Accelerated Growth
S&P 500
Jun 12 2009
Jul 15 2010
Barclays Bank PLC
Accelerated Growth
iShares MSCI Emerging Markets Index Fund
May 29 2009
Jan 23 2012
Royal Bank of Canada
Reverse Convertible
SunTrust
May 15 2009
Aug 20 2009
Royal Bank of Canada
Reverse
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