New York, Sept. 6 – Bank of America was once more the leading agent for structured products in the year-to-date league tables, according to data compiled by Prospect News.
The bank took the top spot in April and has held it ever since – although it has also dominated the league tables for many years.
For the year through August, Bank of America has been agent on $6.38 billion of structured products in 276 deals, giving it a 26.2% share of the market.
JPMorgan placed second, as it did in July, with $4.32 billion in 1,307 deals, adding up to a 17.7% market share.
Goldman Sachs was third, up from fifth in July, while Credit Suisse was fourth, up from sixth.
Barclays took fifth place, up from seventh.
Morgan Stanley and UBS both exited the top five, sinking to sixth and seventh, respectively, from fourth and third.
New methodology for agents
The tables are the third month in which the tables are being compiled under a new methodology.
Starting in June, Prospect News adjusted the way it counts agents in order to better reflect market practices and provide more accurate information.
The full amount is credited to the dealer or distributor, if identified, otherwise to the underwriter. For multiple managers, which is rare in the structured notes market, the total value is divided equally among all the firms.
Issuance dips slightly
The volume of new deals for August was $2.98 billion in 792 offerings.
The count increased from 752 in July, but the total was down 9.9% from the previous month’s $3.31 billion.
July’s figure was increased by an unusual event: Bank of America decided to delay its late-June deals to July because of the market uncertainty created by the Brexit vote in the United Kingdom.
BofA’s action added around $690 million to July’s total – and presumably reduced June by the same amount.
Allowing for that, August’s total is actually stronger than July’s and in line with June’s $2.33 billion.
It is also similar to other months earlier in the year such as May’s $2.88 billion, April’s $2.60 billion and March’s $3.15 billion.
However, year-to-date activity is lagging well behind the 2015 pace.
For the year through August, $24.36 billion of structured products has come to market in 5,578 deals, only 77.7% of the $31.35 billion for the comparable period of last year. The deal count is down, too, from 5,925.
BofA top issuer
Among issuers, Bank of America is also No. 1. Its Bank of America Corp. unit has sold $2.85 billion in 87 deals for the year through August, 11.7% of the market.
Credit Suisse AG, London Branch was second, up from third in July, with $2.49 billion in 587 deals, a 10.2% share.
Goldman Sachs Group, Inc.’s GS Finance Corp. issuing subsidiary slipped a notch to third from second.
HSBC USA Inc. rose one position to third from fourth while Barclays Bank plc made the opposite move to fourth from third.
All structured products, no ETNs, by agent, year to date
2015 Comparables
| Underwriter | Amount | No. | Share | Rank Amount | No. | Share
|
1 | Bank of America | 6.381 | 276 | 26.20% | 1 | 9.399 | 294 | 29.98%
|
2 | JPMorgan | 4.316 | 1307 | 17.72% | 2 | 5.550 | 1238 | 17.70%
|
3 | Goldman Sachs | 3.662 | 522 | 15.03% | 4 | 3.296 | 422 | 10.52%
|
4 | Credit Suisse | 1.634 | 488 | 6.71% | 7 | 1.090 | 351 | 3.48%
|
5 | Barclays | 1.485 | 387 | 6.10% | 6 | 2.050 | 395 | 6.54%
|
6 | Morgan Stanley | 1.340 | 260 | 5.50% | 5 | 2.181 | 377 | 6.96%
|
7 | UBS | 1.299 | 1075 | 5.33% | 3 | 3.713 | 1768 | 11.84%
|
8 | HSBC | 1.292 | 387 | 5.30% | 9 | 0.876 | 386 | 2.80%
|
9 | Citigroup | 0.764 | 199 | 3.14% | 8 | 0.895 | 199 | 2.85%
|
10 | RBC | 0.744 | 225 | 3.05% | 10 | 0.598 | 157 | 1.91%
|
| Total | 24.359 | 5578 | 31.350 | 5925
|
| Average size: | 0.004 | 0.005
|
|
All structured products, by agent, year to date
|
| | | | | 2015 Comparables
|
| Underwriter | Amount | No. | Share | Rank Amount | No. | Share
|
1 | Bank of America | 6.381 | 276 | 21.45% | 2 | 9.399 | 294 | 20.85%
|
2 | Credit Suisse | 4.951 | 744 | 16.64% | 1 | 10.404 | 1030 | 23.08%
|
3 | JPMorgan | 4.316 | 1307 | 14.51% | 4 | 5.550 | 1238 | 12.31%
|
4 | Goldman Sachs | 3.662 | 522 | 12.31% | 6 | 3.296 | 422 | 7.31%
|
5 | Barclays | 3.062 | 391 | 10.29% | 5 | 3.388 | 400 | 7.51%
|
6 | UBS | 1.674 | 1083 | 5.63% | 3 | 6.561 | 1782 | 14.55%
|
7 | Morgan Stanley | 1.340 | 260 | 4.50% | 7 | 2.181 | 377 | 4.84%
|
8 | HSBC | 1.292 | 387 | 4.34% | 9 | 0.876 | 386 | 1.94%
|
9 | Citigroup | 0.789 | 200 | 2.65% | 8 | 0.895 | 199 | 1.99%
|
10 | RBC | 0.748 | 226 | 2.51% | 10 | 0.598 | 157 | 1.33%
|
| Total | 29.750 | 5887 | 45.086 | 6671
|
| Average size: | 0.005 | 0.007
|
|
ETNs, by agent, year to date
|
| | | | | 2015 Comparables
|
| Underwriter | Amount | No. | Share | Rank Amount | No. | Share
|
1 | Credit Suisse | 3.317 | 256 | 61.53% | 1 | 9.314 | 679 | 67.81%
|
2 | Barclays | 1.576 | 4 | 29.24% | 3 | 1.338 | 5 | 9.74%
|
3 | UBS | 0.375 | 8 | 6.96% | 2 | 2.848 | 14 | 20.73%
|
4 | Nuveen | 0.094 | 39 | 1.74% | 4 | 0.095 | 46 | 0.69%
|
5 | Citigroup | 0.025 | 1 | 0.46%
|
6 | RBC | 0.004 | 1 | 0.07%
|
| Total | 5.391 | 309 | 13.736 | 746
|
| Average size: | 0.017 | 0.018
|
|
All structured products, no ETNs, by agent, August
|
| | | | | 2015 Comparables
|
| Underwriter | Amount | No. | Share | Rank Amount | No. | Share
|
1 | Bank of America | 0.894 | 40 | 29.99% | 1 | 0.881 | 41 | 28.68%
|
2 | JPMorgan | 0.618 | 159 | 20.73% | 2 | 0.660 | 186 | 21.50%
|
3 | Goldman Sachs | 0.250 | 53 | 8.38% | 3 | 0.299 | 52 | 9.73%
|
4 | Credit Suisse | 0.226 | 54 | 7.59% | 7 | 0.117 | 47 | 3.81%
|
5 | UBS | 0.201 | 255 | 6.75% | 5 | 0.214 | 158 | 6.97%
|
6 | HSBC | 0.178 | 49 | 5.96% | 9 | 0.095 | 49 | 3.10%
|
7 | Barclays | 0.177 | 49 | 5.95% | 6 | 0.154 | 48 | 5.03%
|
8 | Morgan Stanley | 0.140 | 22 | 4.69% | 4 | 0.281 | 61 | 9.15%
|
9 | RBC | 0.095 | 36 | 3.18% | 11 | 0.073 | 18 | 2.37%
|
10 | Wells Fargo | 0.088 | 18 | 2.94% | 8 | 0.108 | 11 | 3.52%
|
| Total | 2.983 | 792 | 3.071 | 730
|
| Average size: | 0.004 | 0.004
|
|
Commodity structured products, no ETNs, by agent, year to date
|
| | | | | 2015 Comparables
|
| Underwriter | Amount | No. | Share | Rank Amount | No. | Share
|
1 | Bank of America | 0.049 | 6 | 48.70% | 5 | 0.057 | 6 | 7.38%
|
2 | JPMorgan | 0.025 | 22 | 24.96% | 1 | 0.368 | 53 | 47.47%
|
3 | Citigroup | 0.013 | 5 | 12.87% | 3 | 0.088 | 6 | 11.31%
|
4 | TD | 0.005 | 3 | 4.54%
|
5 | UBS | 0.003 | 2 | 3.42% | 7 | 0.014 | 4 | 1.76%
|
6 | Goldman Sachs | 0.003 | 3 | 3.25% | 4 | 0.075 | 2 | 9.65%
|
7 | Morgan Stanley | 0.002 | 2 | 2.27% | 2 | 0.139 | 43 | 17.95%
|
| Total | 0.100 | 42 | 0.776 | 122
|
| Average size: | 0.002 | 0.006
|
|
Equity index structured products, no ETNs, by agent, year to date
|
| | | | | 2015 Comparables
|
| Underwriter | Amount | No. | Share | Rank Amount | No. | Share
|
1 | Bank of America | 5.834 | 235 | 30.29% | 1 | 8.134 | 224 | 39.86%
|
2 | JPMorgan | 3.368 | 927 | 17.49% | 2 | 2.756 | 590 | 13.51%
|
3 | Goldman Sachs | 3.207 | 439 | 16.65% | 3 | 2.646 | 355 | 12.96%
|
4 | Credit Suisse | 1.239 | 329 | 6.43% | 7 | 0.843 | 241 | 4.13%
|
5 | HSBC | 1.061 | 278 | 5.51% | 8 | 0.568 | 246 | 2.78%
|
6 | Barclays | 1.040 | 249 | 5.40% | 5 | 1.276 | 249 | 6.25%
|
7 | Morgan Stanley | 0.923 | 165 | 4.79% | 6 | 0.947 | 155 | 4.64%
|
8 | UBS | 0.681 | 122 | 3.54% | 4 | 1.832 | 277 | 8.98%
|
9 | Citigroup | 0.604 | 127 | 3.14% | 9 | 0.423 | 107 | 2.07%
|
10 | Wells Fargo | 0.561 | 96 | 2.91% | 12 | 0.103 | 23 | 0.51%
|
| Total | 19.261 | 3223 | 20.407 | 2685
|
| Average size: | 0.006 | 0.008
|
|
Foreign exchange structured products, no ETNs, by agent, year to date
|
| | | | | 2015 Comparables
|
| Underwriter | Amount | No. | Share | Rank Amount | No. | Share
|
1 | JPMorgan | 0.050 | 17 | 54.17% | 1 | 0.155 | 27 | 51.85%
|
2 | Morgan Stanley | 0.019 | 2 | 21.16% | 2 | 0.083 | 2 | 27.88%
|
3 | Barclays | 0.008 | 3 | 8.34% | 7 | 0.001 | 1 | 0.34%
|
4 | Deutsche Bank | 0.007 | 1 | 7.76% | 3 | 0.025 | 2 | 8.43%
|
5 | Goldman Sachs | 0.004 | 2 | 3.92% | 8 | 0.000 | 1 | 0.03%
|
6 | HSBC | 0.002 | 1 | 2.35% | 4 | 0.022 | 12 | 7.32%
|
7 | RBC | 0.002 | 1 | 2.18%
|
8 | UBS | 0.000 | 1 | 0.11%
|
| Total | 0.092 | 28 | 0.298 | 47
|
| Average size: | 0.003 | 0.006
|
|
Interest rate structured products, no ETNs, by agent, year to date
|
| | | | | 2015 Comparables
|
| Underwriter | Amount | No. | Share | Rank Amount | No. | Share
|
1 | JPMorgan | 0.056 | 17 | 28.06% | 6 | 0.099 | 18 | 9.49%
|
2 | Wells Fargo | 0.047 | 6 | 23.96% | 2 | 0.207 | 12 | 19.82%
|
3 | Goldman Sachs | 0.041 | 8 | 20.93% | 1 | 0.246 | 13 | 23.56%
|
4 | Morgan Stanley | 0.021 | 4 | 10.35% | 3 | 0.161 | 13 | 15.40%
|
5 | Incapital | 0.012 | 3 | 6.22%
|
6 | Citigroup | 0.011 | 1 | 5.30% | 5 | 0.116 | 18 | 11.12%
|
7 | RBC | 0.006 | 3 | 3.27% | 10 | 0.005 | 2 | 0.48%
|
8 | Deutsche Bank | 0.002 | 1 | 1.06% | 8 | 0.018 | 2 | 1.67%
|
9 | Barclays | 0.002 | 2 | 0.84% | 4 | 0.157 | 3 | 15.03%
|
| Total | 0.198 | 45 | 1.046 | 87
|
| Average size: | 0.004 | 0.012
|
|
Single stock structured products, no ETNs, by agent, year to date
|
| | | | | 2015 Comparables
|
| Underwriter | Amount | No. | Share | Rank Amount | No. | Share
|
1 | UBS | 0.428 | 819 | 17.42% | 1 | 1.649 | 1363 | 29.26%
|
2 | Bank of America | 0.418 | 25 | 17.00% | 3 | 0.982 | 44 | 17.43%
|
3 | JPMorgan | 0.416 | 172 | 16.95% | 2 | 1.372 | 373 | 24.35%
|
4 | Barclays | 0.253 | 74 | 10.32% | 5 | 0.398 | 91 | 7.07%
|
5 | Goldman Sachs | 0.249 | 39 | 10.14% | 6 | 0.190 | 27 | 3.38%
|
6 | Credit Suisse | 0.188 | 91 | 7.65% | 10 | 0.099 | 62 | 1.75%
|
7 | Morgan Stanley | 0.168 | 39 | 6.83% | 4 | 0.413 | 99 | 7.33%
|
8 | RBC | 0.152 | 51 | 6.18% | 9 | 0.133 | 43 | 2.35%
|
9 | HSBC | 0.119 | 35 | 4.85% | 7 | 0.154 | 38 | 2.74%
|
10 | Citigroup | 0.044 | 25 | 1.79% | 8 | 0.139 | 36 | 2.46%
|
| Total | 2.456 | 1381 | 5.633 | 2197
|
| Average size: | 0.002 | 0.003
|
|
Interest rate products with structured coupons (not included above), by agent, year to date
|
| | | | | 2015 Comparables
|
| Underwriter | Amount | No. | Share | Rank Amount | No. | Share
|
1 | First Tennessee | 2.571 | 121 | 6.72% | 1 | 3.433 | 129 | 8.73%
|
2 | Multi-Bank | 2.005 | 142 | 5.24% | 19 | 0.728 | 52 | 1.85%
|
3 | Finacorp | 1.395 | 84 | 3.65% | 13 | 1.053 | 98 | 2.68%
|
4 | Stifel | 1.329 | 86 | 3.48% | 2 | 2.032 | 90 | 5.17%
|
5 | Incapital | 1.312 | 84 | 3.43% | 8 | 1.390 | 121 | 3.53%
|
6 | Piper Jaffray | 1.216 | 67 | 3.18% | 17 | 0.879 | 68 | 2.23%
|
7 | Barclays | 1.147 | 43 | 3.00% | 11 | 1.157 | 33 | 2.94%
|
8 | RBC | 1.120 | 89 | 2.93% | 12 | 1.055 | 47 | 2.68%
|
9 | Raymond James | 1.024 | 84 | 2.68% | 7 | 1.550 | 112 | 3.94%
|
10 | Jefferies | 1.004 | 57 | 2.63% | 6 | 1.637 | 62 | 4.16%
|
| Total | 38.248 | 1611 | 39.319 | 1444
|
| Average size: | 0.024 | 0.027
|
|
Interest rate products with structured coupons (not included above), no agencies, by agent, year to date
|
| | | | | 2015 Comparables
|
| Underwriter | Amount | No. | Share | Rank Amount | No. | Share
|
1 | Goldman Sachs | 0.350 | 35 | 18.27% | 2 | 0.385 | 48 | 18.37%
|
2 | Wells Fargo | 0.343 | 25 | 17.92% | 5 | 0.171 | 10 | 8.15%
|
3 | JPMorgan | 0.195 | 33 | 10.18% | 8 | 0.103 | 33 | 4.91%
|
4 | Bank of America | 0.193 | 19 | 10.08% | 4 | 0.192 | 14 | 9.14%
|
5 | Jefferies | 0.155 | 3 | 8.09%
|
6 | RBC | 0.135 | 15 | 7.06% | 3 | 0.272 | 25 | 12.99%
|
7 | Morgan Stanley | 0.114 | 7 | 5.96% | 6 | 0.162 | 9 | 7.72%
|
8 | Citigroup | 0.111 | 17 | 5.77% | 11 | 0.038 | 10 | 1.79%
|
9 | Barclays | 0.092 | 4 | 4.83% | 1 | 0.408 | 7 | 19.47%
|
10 | TD | 0.069 | 17 | 3.59% | 7 | 0.125 | 29 | 5.98%
|
| Total | 1.916 | 198 | 2.097 | 215
|
| Average size: | 0.010 | 0.010
|
|
All structured products, no ETNs, by issuer, year to date
|
| | | | | 2015 Comparables
|
| Issuer | Amount | No. | Share | Rank Amount | No. | Share
|
1 | Bank of America Corp. 2.849 | 87 | 11.70% | 5 | 2.965 | 73 | 9.46%
|
2 | Credit Suisse AG, London Branch 2.490 | 587 | 10.22% | 3 | 3.640 | 565 | 11.61%
|
3 | GS Finance Corp. (Goldman Sachs Group, Inc.) | 2.396 | 496 | 9.84% | 16 | 0.138 | 2 | 0.44%
|
4 | HSBC USA Inc. | 2.271 | 454 | 9.32% | 6 | 2.826 | 510 | 9.02%
|
5 | Barclays Bank plc | 2.247 | 440 | 9.22% | 1 | 4.429 | 523 | 14.13%
|
6 | JPMorgan Chase Financial Co. LLC | 1.995 | 541 | 8.19%
|
7 | Goldman Sachs Group, Inc. | 1.302 | 36 | 5.34% | 4 | 3.331 | 467 | 10.62%
|
8 | JPMorgan Chase & Co. 1.196 | 399 | 4.91% | 2 | 4.284 | 1045 | 13.67%
|
9 | UBS AG, London Branch 0.958 | 1005 | 3.93% | 9 | 1.532 | 1302 | 4.89%
|
10 | Royal Bank of Canada 0.869 | 247 | 3.57% | 10 | 1.202 | 255 | 3.83%
|
| Total | 24.359 | 5578 | 31.350 | 5925
|
| Average size: | 0.004 | 0.005
|
|
All structured products, by issuer, year to date
|
| | | | | 2015 Comparables
|
| Issuer | Amount | No. | Share | Rank Amount | No. | Share
|
1 | Barclays Bank plc | 3.823 | 444 | 12.85% | 2 | 5.767 | 528 | 12.79%
|
2 | Credit Suisse AG, Nassau Branch 3.345 | 269 | 11.24% | 1 | 9.423 | 701 | 20.90%
|
3 | Bank of America Corp. 2.849 | 87 | 9.58% | 6 | 2.965 | 73 | 6.58%
|
4 | Credit Suisse AG, London Branch 2.490 | 587 | 8.37% | 4 | 3.640 | 565 | 8.07%
|
5 | GS Finance Corp. (Goldman Sachs Group, Inc.) | 2.396 | 496 | 8.06% | 18 | 0.138 | 2 | 0.31%
|
6 | HSBC USA Inc. | 2.271 | 454 | 7.64% | 7 | 2.826 | 510 | 6.27%
|
7 | JPMorgan Chase Financial Co. LLC | 1.995 | 541 | 6.70%
|
8 | UBS AG, London Branch 1.333 | 1013 | 4.48% | 8 | 2.438 | 1311 | 5.41%
|
9 | Goldman Sachs Group, Inc. | 1.302 | 36 | 4.38% | 5 | 3.331 | 467 | 7.39%
|
10 | JPMorgan Chase & Co. 1.196 | 399 | 4.02% | 3 | 4.284 | 1045 | 9.50%
|
| Total | 29.750 | 5887 | 45.086 | 6671
|
| Average size: | 0.005 | 0.007
|
|
Commodity structured products, no ETNs, by issuer, year to date
|
| | | | | 2015 Comparables
|
| Issuer | Amount | No. | Share | Rank Amount | No. | Share
|
1 | Bank of America Corp. 0.049 | 6 | 48.70% | 6 | 0.057 | 6 | 7.38%
|
2 | JPMorgan Chase & Co. 0.021 | 15 | 21.36% | 2 | 0.161 | 44 | 20.69%
|
3 | Citigroup Global Markets Holdings Inc. 0.013 | 5 | 12.87%
|
4 | Toronto-Dominion Bank 0.005 | 3 | 5.40%
|
5 | UBS AG, London Branch 0.004 | 3 | 3.70% | 7 | 0.023 | 8 | 2.94%
|
6 | JPMorgan Chase Financial Co. LLC | 0.003 | 6 | 3.33%
|
7 | GS Finance Corp. (Goldman Sachs Group, Inc.) | 0.002 | 2 | 2.39%
|
8 | Morgan Stanley | 0.002 | 2 | 2.27% | 3 | 0.147 | 45 | 18.94%
|
| Total | 0.100 | 42 | 0.776 | 122
|
| Average size: | 0.002 | 0.006
|
|
Equity index structured products, no ETNs, by issuer, year to date
|
| | | | | 2015 Comparables
|
| Issuer | Amount | No. | Share | Rank Amount | No. | Share
|
1 | Bank of America Corp. 2.708 | 73 | 14.06% | 3 | 2.683 | 53 | 13.15%
|
2 | Credit Suisse AG, London Branch 2.084 | 410 | 10.82% | 1 | 3.131 | 385 | 15.34%
|
3 | GS Finance Corp. (Goldman Sachs Group, Inc.) | 2.018 | 423 | 10.48% | 13 | 0.138 | 2 | 0.68%
|
4 | HSBC USA Inc. | 1.995 | 333 | 10.36% | 5 | 2.072 | 315 | 10.15%
|
5 | Barclays Bank plc | 1.580 | 287 | 8.21% | 2 | 2.852 | 298 | 13.98%
|
6 | JPMorgan Chase Financial Co. LLC | 1.467 | 349 | 7.62%
|
7 | Goldman Sachs Group, Inc. | 1.238 | 27 | 6.43% | 4 | 2.606 | 384 | 12.77%
|
8 | JPMorgan Chase & Co. 0.844 | 254 | 4.38% | 6 | 1.878 | 450 | 9.20%
|
9 | Canadian Imperial Bank of Commerce 0.643 | 35 | 3.34% | 20 | 0.023 | 2 | 0.11%
|
10 | Morgan Stanley | 0.548 | 93 | 2.85% | 8 | 1.043 | 169 | 5.11%
|
| Total | 19.261 | 3223 | 20.407 | 2685
|
| Average size: | 0.006 | 0.008
|
|
Foreign exchange structured products, no ETNs, by issuer, year to date
|
| | | | | 2015 Comparables
|
| Issuer | Amount | No. | Share | Rank Amount | No. | Share
|
1 | JPMorgan Chase & Co. 0.032 | 9 | 34.62% | 2 | 0.076 | 9 | 25.45%
|
2 | Morgan Stanley | 0.019 | 2 | 21.16% | 1 | 0.083 | 2 | 27.88%
|
3 | JPMorgan Chase Financial Co. LLC | 0.012 | 5 | 13.57%
|
4 | Deutsche Bank AG, London Branch | 0.012 | 3 | 13.37% | 4 | 0.027 | 3 | 8.99%
|
5 | Barclays Bank plc | 0.008 | 3 | 8.34% | 6 | 0.012 | 2 | 4.10%
|
6 | GS Finance Corp. (Goldman Sachs Group, Inc.) | 0.004 | 2 | 3.92%
|
7 | HSBC USA Inc. | 0.002 | 2 | 2.71% | 5 | 0.022 | 12 | 7.32%
|
8 | Royal Bank of Canada 0.002 | 1 | 2.18%
|
9 | UBS AG, London Branch 0.000 | 1 | 0.11%
|
| Total | 0.092 | 28 | 0.298 | 47
|
| Average size: | 0.003 | 0.006
|
|
Interest rate structured products, no ETNs, by issuer, year to date
|
| | | | | 2015 Comparables
|
| Issuer | Amount | No. | Share | Rank Amount | No. | Share
|
1 | Wells Fargo & Co. | 0.047 | 6 | 23.96% | 2 | 0.207 | 12 | 19.82%
|
2 | Goldman Sachs Group, Inc. | 0.032 | 5 | 15.99% | 1 | 0.246 | 13 | 23.56%
|
3 | JPMorgan Chase Financial Co. LLC | 0.031 | 12 | 15.47%
|
4 | Deutsche Bank AG, London Branch | 0.022 | 4 | 11.35% | 9 | 0.018 | 2 | 1.67%
|
5 | Morgan Stanley | 0.017 | 3 | 8.33% | 3 | 0.166 | 13 | 15.88%
|
6 | Credit Suisse AG, Nassau Branch 0.012 | 3 | 6.22%
|
7 | Citigroup Inc. | 0.011 | 1 | 5.30% | 5 | 0.116 | 18 | 11.12%
|
8 | GS Finance Corp. (Goldman Sachs Group, Inc.) | 0.010 | 3 | 4.94%
|
9 | Royal Bank of Canada 0.006 | 3 | 3.27% | 10 | 0.005 | 2 | 0.48%
|
10 | Morgan Stanley Finance LLC 0.004 | 1 | 2.02%
|
| Total | 0.198 | 45 | 1.046 | 87
|
| Average size: | 0.004 | 0.012
|
|
Single stock structured products, no ETNs, by issuer, year to date
|
| | | | | 2015 Comparables
|
| Issuer | Amount | No. | Share | Rank Amount | No. | Share
|
1 | Barclays Bank plc | 0.442 | 83 | 18.00% | 2 | 0.881 | 155 | 15.64%
|
2 | UBS AG, London Branch 0.391 | 806 | 15.90% | 3 | 0.820 | 1093 | 14.56%
|
3 | JPMorgan Chase Financial Co. LLC | 0.260 | 92 | 10.59%
|
4 | GS Finance Corp. (Goldman Sachs Group, Inc.) | 0.250 | 40 | 10.16%
|
5 | Royal Bank of Canada 0.197 | 54 | 8.01% | 4 | 0.476 | 112 | 8.45%
|
6 | Credit Suisse AG, London Branch 0.196 | 99 | 7.98% | 8 | 0.289 | 124 | 5.13%
|
7 | HSBC USA Inc. | 0.149 | 44 | 6.07% | 5 | 0.457 | 72 | 8.11%
|
8 | JPMorgan Chase & Co. 0.133 | 69 | 5.41% | 1 | 1.374 | 358 | 24.39%
|
9 | Morgan Stanley Finance LLC 0.091 | 21 | 3.70%
|
10 | Bank of America Corp. 0.086 | 6 | 3.49% | 9 | 0.202 | 10 | 3.58%
|
| Total | 2.456 | 1381 | 5.633 | 2197
|
| Average size: | 0.002 | 0.003
|
|
|
Prospect News Structured Products Rankings
|
|
Criteria
• The tables include all dollar-denominated offerings sold in the United States as public, Rule 144A or similar deals reported to Prospect News.
• Offerings are included in the time period in which they price.
• Amounts are based on the total sales price (face amount multiplied by the offering price).
• The full amount is credited to the dealer or distributor, if identified, otherwise to the underwriter. For multiple managers, the total value is divided equally among all the firms.
• Each tranche is counted as a separate deal.
• Notes are included that convert into or are linked to one or more stocks, indexes, commodities, currencies, interest rates or other assets.
• Interest-rate products with a structured coupon but no underlier, such as step-up notes, step-down notes, fixed-to-floating notes and capped floaters, are listed separately; they are not included in overall totals. Agencies are included in this category.
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