Asia’s Rich Drive $200 Billion Revival in Complex Equity Notes

Rich Asian investors are plowing record money into complex stock bets that saddled them with big losses just a few years ago.

Issuance of structured products linked to Hong Kong and Singapore equities has surged 80% this year to a record of more than $200 billion, according to estimates from BNP Paribas SA, one of the top issuers. Products known as accumulators — which make their holders continuously buy stocks at preset levels — and fixed-coupon notes that offer monthly returns are particularly popular.