Structured products
Singapore investors set to lose all in Pinnacle Notes
Investors in Singapore who bought Pinnacle Performance Notes Series 9 and 10, structured products arranged by Morgan Stanley, are set to lose their entire investment after a mandatory redemption event occurred. The total issue size of the Pinnacle Notes…
Freddie Mac posts heavy losses in Q3
Battered by the ailing residential real estate market, Freddie Mac reported a $25.3 billion loss in the third quarter of 2008 and requested a $13.8 billion capital injection from the US Treasury.
HK SFC tones down structured products approvals
The Hong Kong Securities and Futures Commission (SFC) has postponed the approval of structured retail note documentation but issuers who possess active equity-linked investment programmes (ELIs) are still able to issue products according to various…
Collateral damage prevented with new JP Morgan fund
JP Morgan has launched a new Ucits III compliant fund which offers investors UK equity exposure. Ucits III compliance rules require a fund's assets to be collateralised, which protects investors against credit risk posed by the insolvency of the…
HVB launches bonus fund ahead of German tax changes
HVB has launched its fourth bonus fund in Germany, in the climate of increasingly favourable tax conditions for the investments. The fund is designed to offer the payout structure of a certificate, while also protecting investors from the associated…
Investors hope end in sight for Canadian ABCP restructuring
Retail investors in distressed Canadian non-bank asset-backed commercial paper (ABCP) expect to find out in the next two weeks whether further delays are expected to a restructuring plan.
Industry bodies release G20 regulatory reform paper
Daily news headlines
Paulson: buying MBSs no longer Tarp priority
Treasury secretary Hank Paulson closed the door to systematic US government purchases of illiquid mortgage-backed securities under its $700 billion Troubled Asset Relief Programme (Tarp), during a briefing in Washington, DC today.
ETF Securities offers commodities equity exposure to UK investors
ETF Securities has cross-listed 13 exchange-traded funds (ETFs) on the London Stock Exchange (LSE) which offer equity exposure to commodity markets as well as US equity market exposure.
HSBC Q3 profits up on Q3 2007
HSBC's third-quarter profits rose this year, despite a $271 million loss on its US operations and a total of $7.9 billion in writedowns.
Markets indifferent to Amex conversion as auto-maker bail-out looms
Credit spreads on American Express debt narrowed marginally yesterday while equity prices hit a new low as US markets were largely unmoved by news of the credit card company’s conversion into a bank holding company.
Barclays Wealth launches protected series
Barclays Wealth has launched a new range of protected investments that will be available until January 9 2009: a five-year regular income bond linked to the DJ Stoxx 50 index of European supersector stocks offers a fixed annual income of 7.75% or a…
Hong Kong's SFC puts structured product approvals on ice
Hong Kong’s Securities and Futures Commission (SFC) has delayed approvals of structured product issues for retail distribution following protests from Hong Kong investors that have lost money from the blow-up of so-called minibond structured credit…
DME to list products on CME Globex
The Dubai Mercantile Exchange (DME) has announced plans to list its contracts exclusively on the Chicago Mercantile Exchange (CME) Globex platform.
Treasury and Fed help AIG lay-off CDO risk
AIG was shored up by a restructuring plan hammered out by the US Treasury and Federal Reserve Bank of New York today, which involved the creation of an off-balance-sheet vehicle to neutralise some of the insurer’s hefty collateralised debt obligation …
MSCI launches Peru and Asia Apex exposure
Index provider MSCI Barra has launched the MSCI All Peru, the Asia Apex Mid Cap 50 and the Asia Apex Small Cap 200 indexes, which are designed to underlie financial instruments such as structured products and ETFs.