Product wrap: Morgan Stanley, JP Morgan collaborate on MSCI outperformance

EUROPE Belfius has launched Active Interest USD 04/2022 in Belgium. The two-year steepener is denominated in US dollars and pays a fixed coupon of two percent during the first year of investment. The second year, the coupon is equal to two times the difference between the CMS USD 10-year rate and the CMS USD two-year rate, subject to a minimum coupon of 0.25% and a maximum coupon of three percent. The product is issued via the Belfius Financing Company SA vehicle, a company incorporated under L