US Wrap: ABN branches into new structure and Chinese equity on offer
ABN Amro managed to issue a product other than its standard reverse convertible, on a more adventurous day for the US market which also saw Morgan Stanley put Chinese equity on offer. ABN's product was a kick out note linked to the S&P 500. The bank has launched 101 products in 2009 which have been virtually all reverse convertibles, save for an accelerated growth product launched in January and an S&P 500-linked autocallable note which prices today.
Morgan Stanley linked an accelerated growth note linked to the iShares FTSE/Xinhua China 25 Index Fund. The one year bullish product offers no downside protection and 300% participation in the fund's return, up to a cap of between 41-46%.
Issuer
Product type
Underlying
Pricing date
Maturity date
ABN AMRO Holding NV
Review
S&P 500
May 12 2009
Nov 15 2010
Credit Suisse
Review
Russell 2000
May 22 2009
Jun 29 2010
Morgan Stanley
Reverse Convertible
US Oil
Apr 23 2009
Oct 28 2009
Merrill Lynch & Co Inc
Accelerated Growth
i
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