US Wrap: Wells Fargo sticks with external credit

Wells Fargo has launched four reverse convertible notes packaged using the external credit of Eksportfinans. The notes all last six months and were accompanied by an accelerated growth product linked to the S&P 500, which also used the backing of Eksportfinans to isolate investors from Wells Fargo credit risk.

ABN Amro unveiled a note linked to technology stock Rambus, the first time the share has been on offer in the US structured products market since April 2008. It was one of 10 reverse convertibles launched by the bank, which included another tech stock - Nvidia, also out of the market since last August. 

Issuer	Product type	Underlying	Pricing date	Maturity date
Eksportfinans	Reverse Convertible	Valero	Sep-2009	Mar 18 2010
Eksportfinans	Reverse Convertible	Petrobras	Sep-2009	Mar 18 2010
Eksportfinans	Reverse Convertible	Mastercard	Sep-2009	Mar 18 2010
Royal Bank of Canada	Accelerated Growth	S&P 500	Sep 14 2009	Mar 17 2011
Eksportfinans	Accelerated Growth	S&P 500	Sep-2009	Apr 01 2011
Eksportfinans	Reverse Convertible	Microsoft	Sep-2009	Mar 25 2010
ABN Amro	Reverse Convertible	Rambus	Sep 03 2009	Dec 09 2009
ABN Amro	Reverse Convertible	Deere	Sep 25 2009	Dec 31 2009
ABN Amro	Reverse Convertible	Caterpillar	Sep 25 2009	Dec 31 2009
ABN Amro	Reverse Convertible	Southern Copper	Sep 25 2009	Sep 30 2010
ABN Amro	Reverse Convertible	First Solar	Sep 25 2009	Sep 30 2010
ABN Amro	Reverse Convertible	Motorola	Sep 25 2009	Mar 31 2010
ABN Amro	Reverse Convertible	Nvidia	Sep 25 2009	Mar 31 2010
ABN Amro	Reverse Convertible	General Electric	Sep 25 2009	Mar 31 2010
ABN Amro	Reverse Convertible	US Steel	Sep 25 2009	Mar 31 2010
ABN Amro	Reverse Convertible	Alcoa	Sep 25 2009	Mar 31 2010

Source: Future Value Consultants & SEC filings 

For access to analysis of the US structured product market, visit www.structurededge.com