REVERSEinquiries Workshop Whitepaper - Indices: The Good, the Bad and Knowing the Difference

An issuer comes to us and asks if it can link its debt security to an index. This seemingly simple question (if the index is the S&P® 500 Index, for example) progresses through layers of complication as the underlying index varies from a broad-based benchmark index (such as the SPX) to a proprietary index with a small number of constituents.