ING Pitches Retail Follow-Up

ING Financial Markets began marketing its second equity-linked note to retail investors in Hong Kong last week, after making its debut in this hotly-contested market early this year (DW, 1/24).

  • 22 Apr 2005
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ING Financial Markets began marketing its second equity-linked note to retail investors in Hong Kong last week, after making its debut in this hotly-contested market early this year (DW, 1/24). Dubbed the ING Lion ELN Series II, the two-year worst-of structure is linked to five blue-chip shares in the property and financial sectors, including Cheung Kong Holdings and HSBC. Edwin Bernard, Asian head of equity derivative product sales in Hong Kong, said, "This is a more defensive product as the overall market is trading in a range without a clear direction." He added, "We still see strength in these two sectors, particularly for a two-year outlook."

The note, which will close in mid-May, delivers shares of the worst-performing stock if a strike level expected to be set at 92% of the initial value is hit. A minimum coupon of 5.5% will be paid annually, with a maximum upside potential of around 40% for the total two-year life. "This product is a great way to pick up yield in the current environment while the defensive nature of the underlying shares lowers the chance of the laggard share being delivered," noted Bernard.

  • 22 Apr 2005

All International Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 JPMorgan 134,743.10 557 8.28%
2 Citi 127,287.75 499 7.83%
3 Bank of America Merrill Lynch 106,110.85 421 6.52%
4 Barclays 101,992.87 397 6.27%
5 Deutsche Bank 82,349.11 329 5.06%

Bookrunners of All Syndicated Loans EMEA

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Bank of America Merrill Lynch 11,525.35 30 7.10%
2 UniCredit 8,810.53 47 5.43%
3 BNP Paribas 8,639.54 48 5.33%
4 Deutsche Bank 8,298.69 30 5.12%
5 Commerzbank Group 8,007.20 41 4.94%

Bookrunners of all EMEA ECM Issuance

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Morgan Stanley 4,430.39 19 11.13%
2 Goldman Sachs 4,006.06 15 10.06%
3 Citi 3,572.77 22 8.97%
4 JPMorgan 2,809.08 19 7.05%
5 UBS 2,281.21 12 5.73%