US Wrap: ABN Amro looks to Gold Fields for yield
ABN Amro has launched a reverse convertible note linked to the stock of Gold Fields, the precious metal producer. The structure is the latest addition to a trend which is seeing arrangers offer commodity exposure through provider equity rather than the price of goods.
The note is a short-term trade, lasting three months and paying a 13.25% annualised coupon. Investor principal will be returned in full at maturity provided that the stock never falls below 75% of its initial value and does not
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