Australian bank Macquarie has issued over 2,000 products in Germany in its first month issuing products since it acquired Sal Oppenheim's derivatives and structured products business earlier this year. The figure puts it alongside Germany's most proflific issuers Deutsche Bank, Commerzbank and BNP Paribas.
It is also debuted a number of issues in the Swiss market. New launches available in Germany, Austria and Switzerland include Express Double-chance Quanto certificate, a three-year product linked to the S&P ASX 200 index offering investors early maturity and a predetermined coupon of 2% if the level of the underlying is between 80% and 100% of its strike level at any of the six-monthly observation dates. If on any of the observation dates, the underlying is at or above its initial level, the product terminates early and offers a 5% return for the first six months and 3% for any following period elapsed. If the product reaches maturity and the index is above its initial level, the product offers 120% capital return. A -80% soft protection applies.
"Our plan is to continue issuing the same type of product that Sal Oppenheim did but we are also going to introduce more leverage type products such as Turbos and Mini-Futures. The main goal is leverage the Macquarie group's capabilities with the introduction of new underlyings such as commodities, infrastructure and emerging markets," said Rupert Rothenhaeuser, head of structured products sales Europe at Macquaire Oppenheim.
The firm says it planning to launch two capital protected note-wrapped issues for the German market in the coming weeks.