US Wrap: May Day flurry favours US equity

- Sophia Morrell
- 05 May 2009

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The rest of issuance was patriotically dominated by the S&P 500 index. UBS issued both an accelerated growth product and a bull-bear play on the index; the latter only its 12th product for 2009. Credit Suisse, meanwhile, was offering 500% in index gains over either a 12 or 15 month period.

Issuer

Product type

Underlying

Pricing date

Maturity date

UBS AG

Straddle

S&P 500

May 26 2009

May 31 2011

J P Morgan Chase & Co

Reverse Convertible

Caterpillar

May 08 2009

Nov 13 2009

J P Morgan Chase & Co

Reverse Convertible

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US Wrap: May Day flurry favours US equity

Ten new products were issued at the close of the US week, all linked to US equity. Over half of the new launches were reverse convertibles, issued by JP Morgan. Walt Disney, Microsoft and General Electric all featured as reference stocks among the notes.

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