Banca Popolare di Milano (BPM) has come up with an innovative bond linked to top names in the clothing, eyewear and accessories industries. The L20 billion ($11 million) self-led fashion-linked bond is based on an underlying basket of 12 international stocks ranging from Benetton, Bulgari and Gucci to Escada, Hermès, Luxottica and Louis Vuitton Moët Hennessy. The securities pay interest when the...