Barclays takes its turn to dominate issuance with resource and energy reverse convertibles
Barclays has issued a swathe of reverse convertibles, while HSBC and Wells Gargo are extending tenors on leveraged products.
For the latest issuance it is the turn of Barclays to take the lead. Yesterday, Royal Bank of Canada had the lion's share but today Barclays fights back to take the top spot with its reverse convertibles.
Energy and natural resources are one of the predominant themes in the underlyings. Barclays has issued reverse convertibles linked to Alpha Natural Resources and Cliffs Natural Resources.
The former is the underlying for a three-month product, which pays an annualised rate of 12% and has a
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