Structured products
Bank of America buys Merrill Lynch for $50 billion
Bank of America announced today it will acquire Merrill Lynch in a $50 billion all-stock deal, rounding off an explosive weekend on Wall Street.
FSSCC R&D Committee out with new agenda
Daily news headlines
Merrill offers weather boost
Merrill Lynch in Singapore has launched the Citrine All Weather Booster Notes, which are designed to offer exposure to the stock of five Singapore-based companies.
US banks launch inflation-linked products
SunTrust has launched a new certificate of deposit (CD) linked to the consumer price index for US investors seeking shelter from rising inflation, which hit 5.6% in July 2008.
SuperDerivatives recruits derivatives systems implementation expert
SuperDerivatives, a derivatives solution provider, has appointed Zohar Hod as vice-president, Strategic Sales. Based in New York, Hod will be responsible for implementing the company’s multi-asset solutions to a range of clients in the global banking and…
Macquarie strengthens retail distribution in Australia
Macquarie Funds Group has appointed Irene Deutsch as Australian head of retail distribution in the retail structured products division. Deutsch, who has rejoined the Australian bank after two years, will be responsible for the distribution of structured…
Zurich launches latest Guaranteed Account
Zurich, the insurance-based financial services provider, has released the latest Guaranteed Capital Account in its series. The Zurich Guaranteed Account 20 offers 120% of any growth in the FTSE 100 index over the five and a half-year term and returns 100…
No respite for Lehman after loss warning
Chief executive Richard Fuld’s plan to rescue Lehman Brothers by selling off many of its operations has failed to stem a fall in market confidence, after the bank predicted record losses in the third quarter of this year.
JP Morgan launches Confidence notes in Singapore
JP Morgan in Singapore has launched the JP Morgan AsiaConfidence Notes Series 3, which is designed to give exposure to the performance of four Asian equity markets comprising China, Hong Kong, Singapore and Taiwan.
Lyxor offers China volatility play
Lyxor Asset Management in Hong Kong has launched the China All Weather Guaranteed Fund, which is designed to provide exposure to the absolute performance of the Hang Seng China Enterprises Index (HSCEI).
SG Excels with ETFs
Société Générale Acceptance has launched the SG Excel Notes Series 37, which is designed to provide exposure to the economic development of China and Hong Kong through three ETFs.
Fannie and Freddie CDS to settle at October auction
The auction process to settle credit default swap (CDS) contracts written against Freddie Mac and Fannie Mae will take place in the first week of October, Risk has learned, although losses on the agreements are likely to be minor for most counterparties.
Ratings down and defaults up at Moody's
New York-based ratings agency Moody’s Investors Service reports downgrades in derivatives outlooks and increases in defaults.
Abbey launches Guaranteed Capital Plus and Guaranteed Growth
Abbey has launched its Guaranteed Capital Plus Plan issue 4 along with its latest Guaranteed Growth plan issue 17.
Natixis snares hedge fund replication index licence
Natixis Investment Bank has obtained a licence to use the IndexIQ hedge fund replication index to create multiple structured investment products for institutional and retail investors across Europe and Asia.
Update: Merrill lists hedge basket inverse tracker certificate on DIFX Trax
Merrill Lynch has listed a 10-year Gulf Cooperation Council hedge basket inverse tracker certificate on DIFX TraX, the structured products platform of the Dubai International Financial Exchange.
Fitch nears end of global CDO review
Almost a year on from its global collateralised debt obligation (CDO) ratings embargo, Fitch Ratings is months away from determining the final status of ratings on hundreds of corporate CDOs.
Dow Jones Indexes licensed to Commerz to underlie ETFs
Dow Jones Indexes and Stoxx have licensed a range of indexes to Commerzbank, to underlie 22 exchange-traded funds (ETFs) listed on the Deutsche Boerse. The licensed indexes comprise the Dow Jones Euro Stoxx 50, Dow Jones Euro Stoxx Select Dividend 30,…