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Jubilee Series 3 Liquidation Value
I just received a note from Jubilee Finance and Merrill Lynch with the calculation of the final liquidation value of the Jubilee Series 3. Jubilee Series 3 Notice to Investors First of all, how it works is that in the case of any default, you (the noteholder), will give up the underlying security of your […]
Lehman Brothers Goes into Bankruptcy
After being unable to get any buyers, Lehman Brothers, once the fourth-largest U.S. investment bank, will file for bankruptcy. Lehman Brothers said in a statement today that they plan to file a Chapter 11 petition in the U.S. Bankruptcy Court for the Southern District of New York. The filing will be by the holding company and won’t include […]
Credit Default Swaps Written Off?
I saw this article in the newspaper yesterday. The headline reads: Bond insurers want $171b of risk cover written off. The story is that banks have purchased (from bond insurers) quite a large sum of credit default swaps (CDS) to protect themselves against collateralised debt obligations (CDOs) defaults. Faced with downgrades and heavy financial pressures, […]
Merrill Lynch Jubilee Series 8 Notes
You might probably have seen advertisements for the Merrill Lynch Jubilee Series 8 Notes recently. (If you haven’t, you can download the product fact sheet at the link below:) Merrill Lynch Jubilee Series 8 Notes Fact Sheet The Jubilee Series 8 Notes promises 3.15% p.a. for a period of 2.5 years. It also offers “100% […]
Merrill Lynch China Participation Certificates
Yesterday night, I attended a talk organised by Merrill Lynch on one of their latest products, China Participation Certificates. According to the information on the brochures, the Certificates are a cost effective way for investors to obtain access to selected China-themed sectors, based on the research of specialised Merrill Lynch analysts. The session begun with […]