France Market Review, March 2020: solid barriers continue to deliver

The number includes 102 public offers and 122 private placements. The stock markets fall caused that the maturity of many autocalls was deferred until a later date when they will potentially mature with a larger gain. Defensive Phoenix structures linked to equity indices still paid coupons as downside barriers have not been breached. The losses incurred by structured products in March resulted from the breach of active protection barriers by single stock or ‘worst-of’ structures. None of th