Defensive Autocalls: The structured product everyone's talking about

In this latest episode of Top of the Swaps, Katie Furniss-Brown and Benard Muja explain defensive autocalls: how defined return structured products function, the role of annual observations and step-down barriers, and the possible outcomes at maturity.

They cover why six-year terms are common, how investors use these products in portfolios (equity replacement or an alternatives sleeve), regional and underlying variations, and recent pricing drivers such as interest-rate differentials and fixed-income autocall opportunities

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Past performance does not predict future returns. The value of investments can fall as well as rise and investors may not get back the original amount invested. CAPITAL AT RISK