Natixis said to offload a third of Korean structured book

BAML and BNP Paribas named as buyers in $2.5 billion notional sale of equity-linked securities

korean-won-coins

Natixis, which in December revealed a €260 million ($295 million) hit from the sale of equity structured products in Asia, has sold around a third of the portfolio this month, according to people familiar with the transaction.

The French bank offloaded South Korean equity-linked securities (ELS) trades to buyers that are said to include Bank of America Merrill Lynch and BNP Paribas. Three sources say the sale represents around a third of the French dealer’s South Korean ELS book, with estimates

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