Banks offer short-term plays on natural resources
Royal Bank of Canada leads the offering of short-maturity structured products in the US public market with 12 products, half of which have maturities of just three months
Short-dated maturities were the order of the day in filings with the US Securities and Exchange Commission on April 20. Of the 12 reverse convertibles that Royal Bank of Canada registered with the regulator, six have a three-month maturity and the rest expiring after just six months.
All three-month products are linked to shares of natural resource and energy companies, continuing a trend for this type of stock to feature as the underlying for US structured product listings. Names include US
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