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The Investment Assets Handbook: A definitive practical guide to asset classes by Yoram Lustig

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Chapter 13: Structured products

Introduction

Structured products are designed to customise the cash flow profile and risk/reward characteristics of investments or portfolios, typically using a combination of standard investments, such as bonds and equities, and derivatives, such as options, futures and swaps. Structured products can be customised to specific investor needs, usually if investors have sufficient money to justify customisation (i.e. to make it economically worthwhile for the originating institution). Many financial institutions, in particular investment banks, create standard structured products and then sell them to their clients.

The underlying standard investments can be a single security, a basket of securities, indices ...

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