The US sales volume of non-flow structured notes at the bank has climbed 77.4% to US$2.75 billion in Q3 21 year-on-year (YoY).
The amount was stable quarter-on-quarter (QoQ) despite an issuance increase to 720 from 664. During the same period, the whole US market of non-flow structured products dropped 6.8% to US$29.1 billion QoQ, translating to a 49.9% increase YoY. The Q3 21 saw the number of payoff types fell to 11 from 13 YoY as the bear and accrual retreated – they were linked to two and one products in the prior-year period, respectively. The worst-of option took over the autocallable as the most po
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