Leonteq rolls out first ever Ether-linked rev conv

Leonteq has launched the first ever reverse convertible on Ether, offering a guaranteed coupon of 10% (20% pa) and a strike level of 55% of the initial fixing level. The launch comes at a time when cryptocurrencies, in particular Ether and Bitcoin, have been trading in a relative tight range for weeks. This has translated into an increase in requests from clients for delta one exposure but also for option writing strategies such as reverse convertibles or autocalls on the main cryptocurrencies