US wrap: Royal Bank of Canada dominates with retail-linked reverse convertibles
Reverse convertibles take the lead in US issuance, with most new deals hailing from Royal Bank of Canada
Royal Bank of Canada (RBC) has issued a large and varied range of reverse convertibles in this latest offering.
Several themes run through the underlyings: financials, metals and airlines, which are common themes for reverse convertibles, all appear in the issuance.
Retail is also a popular underlying and several reverse convertibles in this issuance link to retailers.
One of RBC's products links to organic food seller Wholefoods Market. The six-month product pays an annualised rate of 12.25%
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