Expertise

Structured Products

Structured products are pre-packaged investments, such as securities or deposits, which have bespoke payment features linked to one or more underlying assets, often through the use of derivatives. Structured products have become increasingly regulated since the global financial crisis, but their highly adaptable nature means that they continue to be used by a variety of investors with different risk and return appetites.

Our structured products team includes Irish and English qualified lawyers, who have national and international private practice and in-house experience. We have worked for and within the financial institutions involved in the structuring and origination of structured products. This specific expertise enables us to advise clients on all aspects of structured products, from product development stage through to execution.

We provide advice on all aspects of structured products, across all asset classes – including the review of issuance programmes, pricing supplements and final terms to ensure they
match the specifications in the term sheet, executing both vanilla and complex exotic payoffs. We also advise on the regulatory environment in respect of structured products.

For clients that wish to design their own proprietary custom indices and strategies to
be used as underlying investments in structured products, we draft the index methodology in accordance with their requirements and applicable regulatory and industry standards. These include the EU Benchmark Regulation and the IOSCO Principles for Financial Benchmarks

Our Expertise:

Reviewing, drafting and negotiating documentation for retail and institutional structured products across all asset classes, including:

  • Setting up medium term note (MTN) programmes and certificates & warrants programmes with built-in master conditions and market disruption fallbacks to allow for the issuance of a variety of different structured products across all asset classes
  • Pricing supplements or final terms documenting a variety of payoffs, including vanilla and exotic options
  • Methodologies and handbooks for proprietary indices or investable strategies, including describing the algorithm and market disruption fallbacks
  • Plain English descriptions or summaries of the structured product and its payoff to be included in the securities documentation, or other investor-facing materials such as factsheets and brochures
  • LinkedIn

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Daragh O’Shea

Partner


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