RBC offers BP play using reverse convertible
The Royal Bank of Canada has issued a new reverse convertible based on BP. The oil company's shares have risen in the US market in recent trading despite hitting a 13-year low on the London Stock Exchange in June
Investors in the US can now gain exposure to BP using structured products, thanks to the Royal Bank of Canada (RBC), which has issued a reverse convertible linked to the oil giant. BP’s shares fell to a 13-year low on the London Stock Exchange on June 23, the day the product was launched, although the firm’s US shares fared somewhat better.
The product has a three-month term and pays an equivalent annual rate of 24.75%. It features a 65% protection barrier, after which principal will be lost at
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