Research On The Pricing Of Commercial Banks' Guaranteed Structured Financial Products

With the continuous development of domestic commercial Banks structured financial products market, product remaining scale continuous growth, the structure of the product is becoming more and more complex, investors and investment preferences of changes in financial concepts at the same time also makes the structured financial products gradually been recognized by the market, but the commercial Banks in the structured financial products design and pricing is still lacking. In this context, we selected the guaranteed products as a representative of the product design and pricing are studied, the purpose is to find the existing structured financial products in the design and pricing of the deficiencies and to explore a new idea of product design and pricing.This article main content is divided into the following several parts. The first chapter mainly through literature research, summarizes the domestic and foreign scholars on the design of structured financial products of commercial bank and pricing theory and the research status, and as a theoretical basis for setting the structure and the research framework of this article. Second chapter use WIND database for domestic commercial bank financial products market in all kinds of related data statistics, and financial product product elements and the change of external environment factors existence of product size, the influence of earnings has carried on the preliminary analysis. Third chapter to the structural integrity of the financial product design process has carried on the detailed introduction, starting from the target to the product link target selection, as well as the analysis of the supply and demand for the product and the market risk analysis. The fourth chapter selected the guaranteed structured financial products as the research object, this kind product pricing formula is derived by the principle of correlation, and select a guaranteed product to validate previous theoretical analysis, and the products the inspection of the hedging level. The last chapter is summary and outlook, summarizes previous research results and analysis, and the product market has made the prospects of future development.