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Trigger BRC


It stands for trigger barrier reverse convertible; a variant of barrier reverse convertible (BRC)- a structured product– which is structured in a way that if on the observation date, the closing price of the underlying is equal to, or larger than, its respective trigger level (as part of a basket of underlyings), then the trigger will be deemed to have been set off. In which case, the trigger is an early redemption event. The convertible will be early redeemed by the issuer in cash at par (full principal amount) in addition to a coupon payment as a percentage of the full principal amount (e.g., 10%).


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