JP Morgan has launched its first retail structured note for the Hong Kong market: the Abacus Equity Credit Linked Notes. It offers a fixed 18 per cent coupon in the first year, paid out in two equal instalments.

The notes are linked to an equity basket of global blue-chip shares and corporate credit instruments. If the cumulative coupon reaches 20 per cent or more, the notes will be redeemed early. The scheduled maturity is 10 years ending November 30, 2014. The minimum investment is US$5,000. The offer period closes on November 19.