Merrill launches retail principal-protected CLNs in Singapore

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Merrill Lynch in November launched its Jubilee LinkGain Notes in the Singapore retail market. The principal-protected credit-linked notes are issued by Jubilee Global Finance Limited, a special-purpose vehicle, and credit-linked to a reference portfolio of 135 investment-grade entities in Europe, Asia-Pacific and North America. Principal protection is backed by Merrill Lynch.

The 10.25-year notes offer up to 125% interest coupon at maturity for the Singapore dollar tranche and 200% for the US

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