This week's wrap covers products with strike dates between March 11-17, 2018. Structures reviewed include a steepener note from Deutsche Bank in Belgium linked to the constant maturity swap rate (CMS), a basket linked BRC sold in the Dach region by JP Morgan, a FTSE autocallable from Credit Suisse in the UK and securities from Scotiabank in Canada linked to a European benchmark.

EUROPE

Fifty-three structured products distributed across 11 different jurisdictions struck in Europe during the week.

Deutsche Bank issued the 10-year Interest Linked Bond Callable 2028 II in Belgium. The notes offer a fixed coupon of 1.35% p.a. for the first five years of investment. The following years the product offers an annual coupon equal to 1.5 times the difference between the CMS 30 year rate and the CMS 2 year rate. The product is listed in Luxembourg and Deutsche has the option to call the notes at the end of the fifth year of investment.

Consensus Asset Management collaborated with Danske Bank for the launch of Kreditobligation High Yield USA 3 in Sweden. The medium-term note offer an annual income of 6.25% linked to the performance of the Markit CDX North America High Yield S29 index and the Stibor. The product is issued at par and gets a listing on Nasdaq OMX Stockholm.

JP Morgan issued a one-year barrier reverse convertible (BRC) linked to a basket comprising the Hang Seng China Enterprises Index (HSCEI), iShares MSCI Brazil Capped ETF and the Lyxor MSCI India Ucits ETF. The product is classified as an express certificate is available as public offer to retail investors in Austria, Germany and Switzerland.

In France, Lauriers Patrimoine partnered with Societe Generale for Lauriers Rendement Mars 2018. The product, which is available via a life-insurance contract, is linked to the Euro iStoxx Equal Weight Constant 50 Index and listed on the Luxembourg Stock Exchange.

Meteor Asset Management teamed up with Credit Suisse in the UK for the launch of option 1 and option 2 of the Super Step Down Kick Out Plan March 2018 which is linked to a basket composed of the FTSE 100, Eurostoxx 50 and S&P 500. Subject to a minimum investment of £5,000, the plan is available, among other, as 2017/18 tax year stocks and shares Isas, as pension schemes, and by trustees, companies and partnerships. Meteor receives a fee of up to 1.75% for distributing the product.

NORTH AMERICA

Twenty structured products struck in North America during the period. The products included 18 products targeted at investors in Canada and two products aimed at the US market.

Scotiabank launched the BNS Autocallable Notes 8 in Canada. The five-year securities, which are issued via Bank of Nova Scotia, are linked to the Eurostoxx Banks Index which represents a free-float capitalisation-weighted index of banking sector stocks from countries in the European Economic and Monetary Union. The product is eligible for investment as a registered retirement savings plan (RRSP), a type of account for holding savings and investment assets which holds various tax advantages.

LATIN AMERICA

There were no structured products striking in the Latam region this week.

MIDDLE EAST & AFRICA

There were seven structured product with a strike date in the Mea region this week. They were all targeted at investors in South Africa.

Standard Bank issued the Capital Accumulator 5+ in South Africa. The product, which is wrapped as a deposit, has a term of five-years is linked to the FTSE/JSE Africa Top 40. At maturity, if the index is at or above its initial level, the product offers 127% capital return.

ASIA PACIFIC

Twenty-eight structured products struck in the Apac region during the week. The products where split across twosec databases: South Korea (19 products), Japan (nine).

IwaiCosmo Securities, which offers financial services such as consultation and brokerage, underwriting, and securities lending, is distributing Digital M20190912 in Japan. The securities have a term of 1.5-years and are linked to the shares of Screen. The product pays a fixed coupon of 11.9% p.a. for the first quarter and a similar coupon every quarter thereafter providing the share closes at or above 85% of its initial price on the valuation date. Deutsche Bank acts as the bond provider.

Hana Daetoo Securities, in partnership with Kookmin Bank, launched the equity-linked securities (ELS) 8163 in South Korea. The three-year product is linked to the performance of the Eurostoxx 50, HSCEI and S&P 500 and will be redeemed early, at the end of each semester, if the level of the worst performing index is at or above a predetermined level of its starting level.