France 2021-22: number of early redemptions falls

An estimated 3,260 structured products were subject to early redemption between 1 January 2021 and 31 August 2022, according to SRP data. The highest number of products that redeemed early was seen in Q2 2021, when approximately 960 products autocalled. Since then, the number of redemptions has gradually decreased with the lowest knockout rate encountered during the first two months of Q3 2022 when less than 80 products expired. The average products that autocalled was 469 per quarter with the