Food, technology and ETF underlyings feature in latest US structured product filings

New product filings with the SEC show a preference for technology and ETF underlyings, and include a Bank of Montreal reverse convertible based on the stock of Whole Foods Market

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Bank of Montreal reverse convertible links to Whole Foods Market

Upscale US organic grocery store Whole Foods Market has made a rare appearance as a structured product underlying after Bank of Montreal filed a reverse convertible linked to its stock with the US Securities and Exchange Commission on April 23. The product has a short tenor of just three months and pays an annualised rate of 9.01% with a 70% downside protection barrier.

JP Morgan, Morgan Stanley and UBS have all chosen exchange-traded funds (ETFs) as the basis for structured products in their

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