Analysis of structured products issuance for 13 months through July 2012

Columns are amount in billions of dollars, count of deals, percentage of total in dollars. All tables exclude exchange-traded notes except "structure".

Issuer

	7/2011	8/2011	9/2011	10/2011	11/2011	12/2011	1/2012	2/2012	3/2012	4/2012	5/2012	6/2012	7/2012
AB Svensk Exportkredit	0.077	0.102	0.074	0.106	0.081	0.022	0.052	0.039	0.104	0	0.038	0.015	0.114
Bank of America Corp.	0.439	0.063	0.609	0.476	0.409	0.081	0.638	0.414	0.564	0.427	0.502	0.323	0.440
Bank of Montreal	0.018	0.021	0.019	0.009	0.019	0.113	0.090	0.008	0.018	0.009	0.014	0.015	0.008
Bank of Nova Scotia	0	0	0	0	0	0	0	0	0	0.049	0	0.007	0.033
Barclays Bank plc	0.539	0.489	0.418	0.128	0.392	0.201	0.250	0.485	0.490	0.203	0.348	0.272	0.118
Citigroup Funding Inc.	0.142	0.130	0.102	0.081	0.070	0.043	0.080	0.122	0.103	0.054	0.088	0.032	0.021
Credit Suisse AG, Nassau Branch	0.105	0.128	0.073	0.045	0.047	0.049	0.142	0.177	0.201	0.097	0.080	0.102	0.093
Deutsche Bank AG, London Branch	0.370	0.138	0.119	0.417	0.099	0.229	0.121	0.180	0.238	0.195	0.137	0.183	0.100
Eksportfinans ASA	0.154	0.056	0.061	0.149	0.017	0	0	0	0	0	0	0	0
Federal Home Loan Banks	0.010	0	0	0	0	0.010	0	0.020	0.020	0	0	0	0
Goldman Sachs Group, Inc.	0.263	0.582	0.295	0.468	0.245	0.180	0.183	0.261	0.408	0.390	0.408	0.284	0.292
HSBC USA Inc.	0.100	0.177	0.257	0.579	0.187	0.176	0.455	0.315	0.696	0.349	0.526	0.267	0.116
JPMorgan Chase & Co.	0.251	0.539	0.417	0.390	0.262	0.211	0.364	0.482	0.455	0.372	0.284	0.241	0.183
JPMorgan Chase Bank, NA	0.018	0	0	0	0	0	0	0	0	0	0	0	0
Lloyds TSB Bank plc	0	0	0	0	0	0	0	0	0	0.011	0	0.013	0.005
Morgan Stanley	0.442	0.508	0.370	0.129	0.163	0.216	0.187	0.186	0.391	0.330	0.152	0.119	0.099
Royal Bank of Canada	0.345	0.399	0.402	0.106	0.266	0.162	0.199	0.155	0.211	0.175	0.164	0.262	0.161
Royal Bank of Scotland	0.005	0.011	0.004	0.003	0.003	0.024	0.001	0	0.001	0.001	0.001	0.001	0.002
SunTrust Banks, Inc.	0	0	0	0.008	0	0	0	0	0	0	0	0	0
UBS AG	0.118	0.154	0.103	0.067	0.096	0.084	0.089	0.213	0.194	0.187	1.169	0.281	0.192
Wells Fargo & Co.	0.063	0.035	0.064	0.071	0.031	0.037	0.026	0.039	0.055	0.025	0.036	0.045	0
eUnits 2 Year U.S. Market Participation Trust: Upside to Cap/Buffered Downside	0	0	0	0	0	0	0.026	0	0	0	0.020	0	0
Total	3.460	3.531	3.388	3.233	2.386	1.838	2.904	3.096	4.150	2.873	3.970	2.462	1.977
	Q3/2011	Count	Q4/2011	Count	Q1/2012	Count	Q2/2012	Count	Q3/2012	Count	YTD	Count	Total	Count	Last 12 months	Count	YTD Share
AB Svensk Exportkredit	0.253	21	0.209	19	0.194	10	0.053	5	0.114	3	0.362	18	0.824	58	0.747	52	1.69%
Bank of America Corp.	1.110	58	0.966	56	1.617	75	1.252	68	0.440	21	3.309	164	5.385	278	4.946	252	15.44%
Bank of Montreal	0.057	146	0.141	134	0.116	125	0.038	112	0.008	9	0.162	246	0.361	526	0.343	485	0.76%
Bank of Nova Scotia	0	0	0	0	0	0	0.056	8	0.033	6	0.088	14	0.088	14	0.088	14	0.41%
Barclays Bank plc	1.447	218	0.721	152	1.225	202	0.823	181	0.118	36	2.166	419	4.334	789	3.794	711	10.11%
Citigroup Funding Inc.	0.374	37	0.193	38	0.305	34	0.174	29	0.021	2	0.500	65	1.068	140	0.926	129	2.33%
Credit Suisse AG, Nassau Branch	0.307	88	0.142	82	0.520	116	0.279	79	0.093	25	0.891	220	1.340	390	1.234	363	4.16%
Deutsche Bank AG, London Branch	0.627	74	0.745	82	0.539	96	0.514	96	0.100	23	1.153	215	2.525	371	2.155	339	5.38%
Eksportfinans ASA	0.271	19	0.166	8	0	0	0	0	0	0	0	0	0.437	27	0.283	18	0.00%
Federal Home Loan Banks	0.010	1	0.010	1	0.040	3	0	0	0	0	0.040	3	0.060	5	0.050	4	0.19%
Goldman Sachs Group, Inc.	1.140	106	0.893	101	0.853	108	1.082	139	0.292	32	2.227	279	4.260	486	3.998	464	10.39%
HSBC USA Inc.	0.534	104	0.941	153	1.466	184	1.142	147	0.116	36	2.724	367	4.199	624	4.099	591	12.71%
JPMorgan Chase & Co.	1.207	307	0.863	226	1.302	254	0.898	264	0.183	72	2.382	590	4.452	1123	4.201	1036	11.11%
JPMorgan Chase Bank, NA	0.018	3	0	0	0	0	0	0	0	0	0	0	0.018	3	0	0	0.00%
Lloyds TSB Bank plc	0	0	0	0	0	0	0.024	3	0.005	1	0.029	4	0.029	4	0.029	4	0.14%
Morgan Stanley	1.320	136	0.508	64	0.765	88	0.602	89	0.099	15	1.466	192	3.294	392	2.851	354	6.84%
Royal Bank of Canada	1.146	248	0.534	195	0.565	216	0.601	188	0.161	37	1.328	441	3.007	884	2.662	822	6.20%
Royal Bank of Scotland	0.020	16	0.031	12	0.002	4	0.003	5	0.002	4	0.007	13	0.058	41	0.053	36	0.03%
SunTrust Banks, Inc.	0	0	0.008	1	0	0	0	0	0	0	0	0	0.008	1	0.008	1	0.00%
UBS AG, Jersey Branch	0.376	446	0.247	486	0.497	623	1.637	691	0.192	186	2.326	1500	2.949	2432	2.830	2369	10.85%
Wells Fargo & Co.	0.162	22	0.139	17	0.119	22	0.106	22	0	0	0.225	44	0.526	83	0.464	74	1.05%
eUnits 2 Year U.S. Market Participation Trust: Upside to Cap/Buffered Downside	0	0	0	0	0.026	1	0.020	1	0	0	0.047	2	0.047	2	0.047	2	0.22%
Total	10.378	2050	7.457	1827	10.150	2161	9.305	2127	1.977	508	21.432	4796	39.268	8673	35.808	8120	100.00%
Proceeds
	7/2011	8/2011	9/2011	10/2011	11/2011	12/2011	1/2012	2/2012	3/2012	4/2012	5/2012	6/2012	7/2012
Less than $1 million	0.086	0.102	0.108	0.075	0.093	0.087	0.092	0.091	0.095	0.102	0.098	0.086	0.065
$1-1.99 million	0.105	0.117	0.124	0.099	0.132	0.105	0.116	0.118	0.150	0.116	0.146	0.127	0.127
$2-2.99 million	0.080	0.162	0.136	0.083	0.083	0.148	0.116	0.133	0.170	0.160	0.142	0.146	0.115
$3-4.99 million	0.159	0.267	0.187	0.190	0.234	0.198	0.221	0.282	0.355	0.258	0.220	0.242	0.170
$5-9.99 million	0.429	0.514	0.485	0.487	0.500	0.304	0.502	0.538	0.565	0.508	0.508	0.449	0.289
$10-14.99 million	0.601	0.486	0.324	0.358	0.317	0.214	0.355	0.465	0.409	0.320	0.493	0.303	0.148
$15-$49.99 million	1.389	1.320	1.389	1.231	0.858	0.639	0.989	1.088	1.646	1.216	0.791	0.941	0.712
$50 million and higher	0.611	0.563	0.636	0.711	0.170	0.143	0.514	0.381	0.760	0.191	1.572	0.168	0.350
Total	3.460	3.531	3.388	3.233	2.386	1.838	2.904	3.096	4.150	2.873	3.970	2.462	1.977
	Q3/2011	Count	Q4/2011	Count	Q1/2012	Count	Q2/2012	Count	Q3/2012	Count	YTD	Count	Total	Count	Last 12 months	Count	YTD Share
Less than $1 million	0.295	964	0.255	897	0.278	982	0.286	1035	0.065	234	0.630	2251	1.180	4112	1.094	3897	2.94%
$1-1.99 million	0.345	254	0.336	248	0.384	276	0.389	280	0.127	91	0.899	647	1.581	1149	1.477	1070	4.19%
$2-2.99 million	0.378	158	0.313	130	0.419	172	0.448	182	0.115	46	0.982	400	1.673	688	1.593	655	4.58%
$3-4.99 million	0.614	162	0.622	163	0.857	225	0.720	190	0.170	46	1.748	461	2.984	786	2.825	743	8.16%
$5-9.99 million	1.427	207	1.291	187	1.605	226	1.465	215	0.289	44	3.360	485	6.078	879	5.649	814	15.68%
$10-14.99 million	1.411	121	0.888	76	1.230	104	1.117	96	0.148	12	2.495	212	4.794	409	4.193	355	11.64%
$15-$49.99 million	4.097	159	2.728	112	3.723	153	2.948	114	0.712	30	7.382	297	14.208	568	12.819	512	34.44%
$50 million and higher	1.810	25	1.023	14	1.654	23	1.931	15	0.350	5	3.936	43	6.770	82	6.159	74	18.37%
Total	10.378	2050	7.457	1827	10.150	2161	9.305	2127	1.977	508	21.432	4796	39.268	8673	35.808	8120	100.00%
Type
	7/2011	8/2011	9/2011	10/2011	11/2011	12/2011	1/2012	2/2012	3/2012	4/2012	5/2012	6/2012	7/2012
Basket of stocks	0.015	0.025	0.036	0.013	0.024	0.111	0.090	0.012	0.046	0.012	0.011	0.033	0.005
Commodities	0.264	0.245	0.317	0.471	0.203	0.288	0.385	0.237	0.382	0.206	0.110	0.212	0.158
ETF	0.108	0.157	0.157	0.522	0.150	0.189	0.143	0.211	0.281	0.093	0.208	0.145	0.045
Equity index	1.339	2.103	1.837	1.579	1.242	0.738	1.507	1.543	2.105	1.377	2.712	1.415	1.277
Foreign exchange	0.187	0.061	0.279	0.135	0.168	0.031	0.028	0.094	0.089	0.162	0.189	0.078	0.050
Interest rate	0.149	0.059	0.048	0.011	0.041	0.015	0.041	0.031	0.077	0.094	0.036	0.002	0.008
Multiple/Other	0.289	0.199	0.152	0.102	0.101	0.116	0.105	0.303	0.360	0.198	0.146	0.081	0.042
Single stock	1.110	0.681	0.561	0.400	0.456	0.350	0.605	0.664	0.811	0.730	0.559	0.496	0.392
Total	3.460	3.531	3.388	3.233	2.386	1.838	2.904	3.096	4.150	2.873	3.970	2.462	1.977
	Q3/2011	Count	Q4/2011	Count	Q1/2012	Count	Q2/2012	Count	Q3/2012	Count	YTD	Count	Total	Count	Last 12 months	Count	YTD Share
Basket of stocks	0.075	13	0.148	27	0.148	33	0.056	25	0.005	4	0.210	62	0.433	102	0.419	98	0.98%
Commodities	0.826	98	0.962	103	1.004	107	0.528	76	0.158	20	1.689	203	3.478	404	3.214	371	7.88%
ETF	0.422	145	0.862	118	0.635	149	0.447	145	0.045	35	1.126	329	2.410	592	2.302	554	5.25%
Equity index	5.279	513	3.559	468	5.155	569	5.504	503	1.277	153	11.937	1225	20.775	2206	19.436	2080	55.70%
Foreign exchange	0.527	45	0.333	38	0.211	26	0.429	66	0.050	11	0.689	103	1.550	186	1.363	175	3.21%
Interest rate	0.256	39	0.068	19	0.149	20	0.132	12	0.008	2	0.289	34	0.613	92	0.465	73	1.35%
Multiple/Other	0.640	112	0.319	80	0.768	112	0.425	110	0.042	22	1.235	244	2.194	436	1.906	397	5.76%
Single stock	2.352	1085	1.206	974	2.080	1145	1.784	1190	0.392	261	4.256	2596	7.815	4655	6.704	4372	19.86%
Total	10.378	2050	7.457	1827	10.150	2161	9.305	2127	1.977	508	21.432	4796	39.268	8673	35.808	8120	100.00%
Structure
	7/2011	8/2011	9/2011	10/2011	11/2011	12/2011	1/2012	2/2012	3/2012	4/2012	5/2012	6/2012	7/2012
ETN	1.053	1.082	0.541	0.249	0.454	0.193	0.641	1.031	13.439	0.670	0.721	0.532	0.134
callable reverse convertible	0.232	0.233	0.188	0.157	0.195	0.164	0.191	0.292	0.283	0.366	0.253	0.250	0.212
convertible/linked	0.084	0.084	0.033	0.118	0.055	0.245	0.111	0.045	0.318	0.096	0.197	0.169	0.054
increasing calls	0.267	0.214	0.104	0.134	0.073	0.077	0.343	0.324	0.419	0.163	0.196	0.123	0.077
leveraged return	0.633	0.378	0.555	0.337	0.329	0.125	0.405	0.287	0.464	0.240	1.348	0.331	0.279
leveraged return, downside protection	0.012	0.010	0.095	0.020	0.044	0	0.027	0.092	0.054	0.098	0.107	0.071	0.025
leveraged return, partial downside protection	0.516	0.725	0.518	1.111	0.548	0.324	0.489	0.814	0.756	0.596	0.636	0.416	0.553
other/NA	1.139	1.511	1.540	1.097	0.809	0.638	0.984	0.901	1.484	1.051	0.997	0.862	0.566
range	0.020	0	0.033	0.012	0.025	0.034	0.012	0.023	0.021	0	0	0.006	0.003
reverse convertible	0.036	0.028	0	0.069	0.089	0.064	0.172	0.165	0.147	0.097	0.084	0.107	0.101
steepener	0	0.009	0.006	0	0	0	0	0	0	0.011	0	0	0
trigger reverse convertible	0.522	0.337	0.316	0.180	0.218	0.165	0.171	0.153	0.205	0.154	0.153	0.125	0.109
Total	4.512	4.612	3.929	3.483	2.841	2.031	3.545	4.127	17.589	3.543	4.691	2.994	2.111
	Q3/2011	Count	Q4/2011	Count	Q1/2012	Count	Q2/2012	Count	Q3/2012	Count	YTD	Count	Total	Count	Last 12 months	Count	YTD Share
ETN	2.676	119	0.897	100	15.110	164	1.923	109	0.134	35	17.166	308	20.739	527	19.687	493	44.47%
callable reverse convertible	0.653	333	0.516	324	0.766	446	0.869	429	0.212	115	1.846	990	3.015	1647	2.783	1562	4.78%
convertible/linked	0.201	27	0.417	35	0.474	45	0.462	40	0.054	9	0.990	94	1.608	156	1.524	143	2.56%
increasing calls	0.586	87	0.284	61	1.085	149	0.483	79	0.077	25	1.645	253	2.514	401	2.247	373	4.26%
leveraged return	1.566	124	0.792	72	1.156	83	1.919	75	0.279	18	3.354	176	5.712	372	5.079	327	8.69%
leveraged return, downside protection	0.117	11	0.064	10	0.173	10	0.276	31	0.025	7	0.474	48	0.655	69	0.644	66	1.23%
leveraged return, partial downside protection	1.759	248	1.983	239	2.058	246	1.648	213	0.553	61	4.260	520	8.003	1007	7.487	939	11.04%
other/NA	4.190	418	2.544	353	3.368	454	2.911	487	0.566	110	6.845	1051	13.579	1822	12.440	1707	17.73%
range	0.052	5	0.071	14	0.057	10	0.006	1	0.003	1	0.066	12	0.188	31	0.169	28	0.17%
reverse convertible	0.065	6	0.222	37	0.484	68	0.288	67	0.101	23	0.873	158	1.160	201	1.124	197	2.26%
steepener	0.015	5	0.001	2	0	0	0.011	1	0	0	0.011	1	0.027	8	0.027	8	0.03%
trigger reverse convertible	1.175	786	0.563	680	0.529	650	0.432	704	0.109	139	1.069	1493	2.807	2959	2.285	2770	2.77%
Total	13.054	2169	8.354	1927	25.260	2325	11.228	2236	2.111	543	38.599	5104	60.007	9200	55.495	8613	100.00%
Tenor
	7/2011	8/2011	9/2011	10/2011	11/2011	12/2011	1/2012	2/2012	3/2012	4/2012	5/2012	6/2012	7/2012
Less than 1 year	0.562	0.360	0.267	0.219	0.219	0.177	0.326	0.206	0.316	0.249	0.202	0.195	0.127
1	1.232	1.143	1.071	1.721	0.766	0.827	1.168	1.292	1.725	1.125	2.211	1.112	0.603
1.25	0.394	0.190	0.447	0.162	0.325	0.091	0.268	0.243	0.405	0.164	0.177	0.199	0.217
1.5	0.298	0.484	0.155	0.229	0.192	0.124	0.131	0.217	0.196	0.155	0.156	0.170	0.103
1.75	0.001	0	0.003	0.011	0.002	0	0.007	0.004	0.027	0.012	0.031	0	0.005
2	0.161	0.351	0.446	0.428	0.381	0.190	0.559	0.405	0.492	0.453	0.583	0.352	0.281
2.25 to 4.75 years	0.311	0.570	0.480	0.257	0.251	0.208	0.216	0.393	0.374	0.428	0.323	0.229	0.370
5	0.092	0.207	0.168	0.100	0.051	0.075	0.119	0.088	0.179	0.078	0.101	0.084	0.169
5.25 to 9.75	0.086	0.037	0.128	0.061	0.083	0.063	0.038	0.058	0.106	0.032	0.060	0.041	0.025
10	0.046	0.020	0.006	0.008	0.027	0.012	0.010	0.020	0.010	0.009	0.023	0.017	0.022
10.25 to 14.75	0.008	0.027	0.005	0	0	0	0	0	0	0	0	0.008	0
15	0.202	0.042	0.126	0.031	0.051	0.071	0.036	0.120	0.186	0.142	0.068	0.035	0.039
Longer than 15	0.065	0.098	0.087	0.006	0.041	0.001	0.028	0.050	0.132	0.027	0.034	0.020	0.016
Total	3.460	3.531	3.388	3.233	2.386	1.838	2.904	3.096	4.150	2.873	3.970	2.462	1.977
	Q3/2011	Count	Q4/2011	Count	Q1/2012	Count	Q2/2012	Count	Q3/2012	Count	YTD	Count	Total	Count	Last 12 months	Count	YTD Share
Less than 1 year	1.190	650	0.615	481	0.848	510	0.646	470	0.127	77	1.622	1057	3.427	2188	2.864	2002	7.57%
1	3.446	709	3.313	776	4.184	964	4.447	922	0.603	233	9.234	2119	15.993	3604	14.761	3435	43.09%
1.25	1.031	61	0.577	47	0.916	70	0.541	62	0.217	13	1.674	145	3.282	253	2.888	230	7.81%
1.5	0.937	156	0.544	121	0.544	123	0.480	142	0.103	46	1.128	311	2.609	588	2.311	550	5.26%
1.75	0.004	2	0.013	2	0.038	9	0.043	7	0.005	3	0.086	19	0.103	23	0.102	22	0.40%
2	0.958	125	0.999	130	1.456	150	1.388	185	0.281	41	3.125	376	5.083	631	4.921	599	14.58%
2.25 to 4.75 years	1.360	163	0.716	143	0.983	163	0.980	161	0.370	42	2.333	366	4.409	672	4.098	625	10.89%
5	0.468	69	0.226	49	0.386	69	0.263	89	0.169	29	0.818	187	1.512	305	1.419	288	3.82%
5.25 to 9.75	0.251	44	0.208	39	0.202	48	0.133	36	0.025	9	0.360	93	0.818	176	0.732	164	1.68%
10	0.072	9	0.046	11	0.040	11	0.049	11	0.022	7	0.111	29	0.229	49	0.183	43	0.52%
10.25 to 14.75	0.040	7	0	0	0	0	0.008	1	0	0	0.008	1	0.048	8	0.041	6	0.04%
15	0.370	28	0.152	19	0.341	26	0.246	34	0.039	5	0.626	65	1.149	112	0.947	98	2.92%
Longer than 15	0.249	27	0.048	9	0.210	18	0.081	7	0.016	3	0.308	28	0.605	64	0.540	58	1.44%
Total	10.378	2050	7.457	1827	10.150	2161	9.305	2127	1.977	508	21.432	4796	39.268	8673	35.808	8120	100.00%

Criteria

• The tables include all dollar-denominated offerings sold in the U.S. as public or Rule 144A 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).

• Each tranche is counted as a separate deal.

• Notes are included that convert into or are linked to one more stocks, indexes, commodities, currencies, interest rates or other assets. For interest rate deals, callables with no further structure are excluded.

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