The Mexican bank has launched its first ever structured notes in the Mexican market.

Banco Azteca has officially entered the Mexican structured notes market with its inaugural issuance of structured deposits linked to the USD/MXN foreign exchange rate.

We are optimistic about replicating a significant portion of the success previously achieved in the Mexican structured products market - Ricardo Guido

Targeted at institutional investors, pension funds, insurance companies and wealth managers with a conservative risk profile, these products are denominated in Mexican pesos (MXN).

The structured notes, issued as certificates of deposit, have a seven-day term and are settled in Mexican legal tender. The initial offering was launched on 6 August, 2025, with issuance and settlement dates on 8 August and maturity on 15 August.

The investment amount for the new product was set at MXN100,000 (US$5,354) with a nominal value of MXN100 per title and an initial exchange rate of MXN/USD 18.7300.

This launch marks the third time Ricardo Guido (right), head of special projects at Banco Azteca, has launched a structured note issuance programme, following previous projects at IXE grupo financiero and Monex.

“The bank’s entry into this space reflects our commitment to providing tailored investment solutions to qualified investors, including institutional and individual clients classified as conservative,” Guido told SRP.

With this new offering, Banco Azteca aims to strengthen its position within Mexico’s growing financial services landscape.

The bank has successfully navigated initial tests, including a second trial issuance to ensure all technical and operational issues were cleared.

“We are optimistic about replicating a significant portion of the success previously achieved in the Mexican structured products market,” said Guido.

Guido returned to Banco Azteca in November 2024 after over 16 years as head of derivatives and structuring at Monex. Previously he was head of derivatives at Banco Azteca for two years. He was also head of derivatives at IXE for almost three years and previously worked as a derivatives trader at Banamex.

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