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 222,090.35 998 8.23%
2 Citi 207,802.09 868 7.70%
3 Bank of America Merrill Lynch 172,151.11 725 6.38%
4 Barclays 162,393.55 662 6.01%
5 HSBC 133,323.28 724 4.94%

Bookrunners of All Syndicated Loans EMEA

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 BNP Paribas 27,275.91 109 7.92%
2 Credit Agricole CIB 25,517.00 104 7.41%
3 JPMorgan 21,834.93 53 6.34%
4 Bank of America Merrill Lynch 21,222.68 53 6.16%
5 SG Corporate & Investment Banking 16,639.52 78 4.83%

Bookrunners of all EMEA ECM Issuance

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 JPMorgan 7,363.27 46 9.58%
2 Morgan Stanley 7,283.40 35 9.48%
3 Goldman Sachs 6,842.44 35 8.90%
4 Citi 5,763.97 41 7.50%
5 UBS 4,691.07 23 6.11%