SRP looked at the best-performing products in Europe in the first half of 2020. It came as no surprise that the products that matured in January and February came out on top as the mid-March market crash pushed underlyings below their protection barriers for autocalls and into negative territory for the rest of the structures.
Switzerland: Vonti Quanto CHF – 105%/60% pa Vontobel’s reverse convertible on the share of Big Lots, a US retail company headquartered in Columbus, OH, was the best-performing product in Europe during the semester. The product had a tenor of just 30 days and paid a fixed coupon of 60% per annum, regardless of the performance of the underlying share. At maturity, on 6 January 2020, the share closed at US$28.74 – more than 50% above its strike price of US$19.12 – and, in a
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