US wrap: Bank of America offers diversification with basket product
After the recent pick-up in reverse convertibles, the latest issuance sees a return to accelerated growth products, including a basket product issued by Bank of America, which last month replaced Barclays as the top issuer in the US in terms of notional.
Bank of America's two-year accelerated growth product has a participation rate of 200% in the underlying basket of the MSCI EAFE (27.5%), MSCI Emerging Markets (27.5%) and S&P 500 (45%) indexes.
Gains are capped at 17-21% and there is a buffer
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