Comments on: HSBC Trust Terminates Swaps of Underlying

By: nightfalc

nightfalc — Tue, 20 Dec 2011 01:55:04 +0000

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By: lioninvestor

lioninvestor — Sun, 16 Nov 2008 14:57:24 +0000

1) Nothing much we can do other than the filing of dispute if there is mis-selling.

2) CDS – credit default swaps

Those minibond with synthetic CDOs as the underlying securities would have their CDS terminated.

HSBC trust has indicated that series 9 and 10 do not have any underlying swaps, so it can be taken that the Wachovia floating rate notes do not have CDS.

3) Floating rate refers to the interest coupon on the notes. It means they will be based on certain benchmark – eg LIBOR.

By: Alice low

Alice low — Sat, 15 Nov 2008 13:33:12 +0000

The underlying securities of series 9 and 10 are floating rate notes
issued by Wachovia unlike the toxic CDS of the other series,so there are no CDS SWAPS to terminate.
Question 1. What we should do next?
2. What do you means by CDS?
3. What do you means by floating rate notes?

By: lioninvestor

lioninvestor — Thu, 13 Nov 2008 13:19:20 +0000

The underlying securities of series 9 and 10 are floating rate notes issued by Wachovia unlike the toxic CDS of the other series, so there are no CDS swaps to terminate.

By: chris

chris — Thu, 13 Nov 2008 12:29:50 +0000

Hi,

Saw the paragraph relating to series 9 and 10 below:

‘This action is not necessary for series 9 and 10 as the underlying securities for these notes are corporate bonds and have no swaps.’

What does it means for series 9 and 10? Any ideas?