Retail product design innovations

Structured note developments
Once the preserve of sophisticated institutional investors, derivatives dealers’ structured note products are now finding their way into retail investors’ portfolios. And perhaps one of the most sophisticated current examples of this trend is the power reverse dual callable swap (PRDC). The PRDC is a structured note that allows investors to speculate on changes in the exchange rate between markets that have a significant interest rate differential. Right now, Japa

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