JPMorgan Markets Equity First-To-Default Basket

JPMorgan is pitching first-to-default type instruments linked to equity-default swaps.

  • 24 Nov 2004
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JPMorgan is pitching first-to-default type instruments linked to equity-default swaps. The structure uses deep out-of-the-money equity barrier options known as equity-default swaps (DW, 2/6/03). Martin Bertsch, head of financial engineering in London, said it has started marketing the structures to sophisticated institutional investors and hedge funds.

JPMorgan is marketing deals with a maturity of five years, but Bertsch declined to comment on the size of any trades. The move is part of an ever increasing convergence between equity and credit derivatives. In the last year, banks have also started marketing collateralized debt obligations with an EDS component (DW, 2/8).

  • 24 Nov 2004

All International Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Citi 35,106.76 122 7.85%
2 JPMorgan 30,256.65 110 6.77%
3 Barclays 29,969.05 73 6.70%
4 Goldman Sachs 28,948.54 58 6.48%
5 Deutsche Bank 24,623.55 77 5.51%

Bookrunners of All Syndicated Loans EMEA

Rank Lead Manager Amount $m No of issues Share %
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1 ING 767.18 3 9.30%
1 BNP Paribas 767.18 3 9.30%
3 UniCredit 735.89 2 8.92%
4 Santander 467.33 2 5.66%
4 SG Corporate & Investment Banking 467.33 2 5.66%

Bookrunners of all EMEA ECM Issuance

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Goldman Sachs 1,607.28 5 20.37%
2 Credit Suisse 1,301.65 4 16.50%
3 UBS 970.80 3 12.31%
4 BNP Paribas 522.35 4 6.62%
5 SG Corporate & Investment Banking 444.17 3 5.63%