Deutsche Bank has increased the number of currencies on which it structures interest rate products with varying maturities. Rashid Zuberi, director in interest rate derivatives in London, said it now offers the notes on the euro, Danish kroner and Polish zloty in addition to the dollar.
Deutsche Bank started structuring the notes, dubbed Target Redemption Notes or TARN, earlier this year (DW, 7/27). It has expanded the range of currencies because of client demand, according to Zuberi.
The notes work by guaranteeing a return and altering the maturity depending on the direction of rates.
