US wrap: Barclays reverse convertible links to Russell 2000 fund
The market is continuing to see the meagre issuance volumes that have characterised the past few weeks. However, the latest issuance features an interesting product from Barclays: a reverse convertible based on a fund, which is a rarity in the US market.
The three-month Reverse Convertible Notes linked to the iShares Russell 2000 Index Fund pay a fixed monthly income with an annualised rate of 9.1%. The notes have an 80% downside barrier, which, if breached, causes capital to be lost at the rate
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