The number of notes aimed at investors seeking to trade off the beaten track have increased in the US over the last few months.

The structured notes available in the global market predominantly share a bullish view on equity assets, be it high or moderate. In the US, autocallable structures and upside participation notes have been the bread-and-butter over the past decade. However, some investors do use structured notes to express their bearish view in an attempt to profit from an asset decline in value despite being the very minority. The past 10 months have seen 60 bearish structured notes issued in the US market wit