I have some bad news for Jubilee Series 3 LinkEarner Notes owners. I found this Q and A issued by Merrill Lynch on CIMB’s website. (They have subsequently removed the Q and A)
Question 4 : What is the likely Credit Event Redemption Amount?
The Credit Event Redemption Amount has not yet been finalized but wil be determined by the Calculation Agent in accordance with the procedures described in the Pricing Statement. Based on current market conditions, the Credit Event Redemption Amount is likely to be zero or an amount close to zero. It is likely that Noteholders will lose all or substantially all of their principal invested in the Notes. The Calculation Agent will notify you of the Credit Event Redemption Amount as soon as resonably practicable after its determination.