The European banking sector performance has been a standout driver of successful early redemptions of structured products (autocalls) for the best part of Q1 2023 in France, according to SRP data.
With banks set to end the quarter about flat following the sector turmoil, early matured products linked to banking indices represented more than a fifth of the redeemed notional in France year to date. Additionally, products linked to the performance of shares of French banks accounted for a further three percent of the approximately €2 billion released for reinvestment in what has been an improving quarter for autocalls in terms of rollover money. The inner pie-chart below shows a break
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