First structured product listed on Canadian National Stock Exchange heralds advance of US banks

Bank of America Merrill Lynch makes its mark in Canada

Bank of America Merrill Lynch (BAML) has strengthened its reach into Canada by providing a guarantee on the first structured product to be listed on the Canadian National Stock Exchange (CNSX). The CNSX announced, on November 7, its listing of BAC Canada Finance Company's (formerly Merrill Lynch Canada Finance) five-year extendible step-up medium-term notes.

According to a New York-based structured products banker, the Canadian market has been largely closed to US banks over the past two to thre

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