There were 120 products – including flow but excluding leverage and private banking – worth an estimated JPY211 billion (US$1.9 billion), added to the SRP Japan database in October.

There were 105 striking products collecting some JPY191 billion in sales volumes. The highest seller was a Nikkei linked autocallable note that sold JPY14 billion. The product offered a fixed coupon of 2.65% per annum and thereafter a coupon of the same amount if the level of Nikkei is above 80% of its initial level on any quarterly valuation date. It also featured a step down autocall barrier starting from 105% and going down by one percent on each subsequent quarterly valuation date. There we