US Wrap: RBS leads with financial reverse convertibles

rbs-insurance-sell-off-direct-line-churchill-EC
RBS reverse convertibles dominate issuance

Reverse convertibles are again the focus of issuance, signalling a return to normality in the US offering, although they have been issued by Royal Bank of Scotland (RBS), with no sign of any supply from regular issuer Barclays.

Underlyings continue to feature financials, with RBS issuing a three-month reverse convertible based on Goldman Sachs. The product pays an annual coupon of 10%, which is a moderate rate compared with many in the market. There is a 75% protection barrier and if that is

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact info@risk.net or view our subscription options here: http://subscriptions.risk.net/subscribe

You are currently unable to copy this content. Please contact info@risk.net to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to Risk.net? View our subscription options

Most read articles loading...

You need to sign in to use this feature. If you don’t have a Risk.net account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here