France Market Review, July 2021: memory coupons offset market timing

Issuance and volumes slightly decreased from the previous month, however sales increased 43% year-on-year. One hundred twenty-seven of the 421 live products with call point in July activated the autocall trigger during the month. Of these, 20 were linked to equity stocks and returned an average annualised coupon of 9.5% for an average investment term of 1.4-years. Ninety-two products linked to indices expired early returning an average annualised coupon of 6.2% for an average investment term o