SEC estimated value guidance causing concern among investors

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Some investors have expressed surprise at the estimates banks are providing for the value of their structured notes.

Banks report that some dealers and investors are startled by how low the estimate is compared to how much banks are charging for the notes. "I wouldn't say we're getting angry calls, but investors are asking [questions]," says a New York-based head of structured products distribution. Some investors are asking why they can't be charged a price that is closer to the estimate, he

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