Chinese investors in index-linked autocalls known as snowball derivatives have benefitted from the change of direction of the underlying indexes which have triggered positive payouts.

Nearly US$2.8 billion worth of China’s snowball derivatives have reached knock-outs this year, according to data compiled by Galaxy Technologies as of the end of May. China saw a massive of snowball structured products reach knock-out levels last month as the domestic equities saw a rebound from their February low. Some 63 outstanding snowball products hit their knock-out level in May, doubling the entire knock-out amounts seen so far this year, data compiled by Galaxy Technologies on 8

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