Product Innovations Launches USD Bond
Product Innovations has announced its promised Opus Diversifier Dollar Bond - a dollar denominated 50:50 product for offshore distribution, which it described as generating a lot of excitement.
“We expect this to become a series. It will probably close early, and we’ll replace it with another,” said head of operations Scott Levy, last week. The product is aimed at pensions, corporate clients and higher net worth individuals.
The capital-protected product pays USD 3-month Libor plus 60bps on half
the investment (currently 4.23%), and 85% participation in a basket
comprising Nymex crude oil, sterling/dollar (dollar to appreciate) and
the FTSE100 on the other 50%.
The product is structured as a deposit. It opens 29 July and closes 8
September. IFA Commission is 3%. Minimum Investment is $100,000.