Analysis of structured products issuance for 13 months through May 2013

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

Issuer

	5/2012	6/2012	7/2012	8/2012	9/2012	10/2012	11/2012	12/2012	1/2013	2/2013	3/2013	4/2013	5/2013
AB Svensk Exportkredit	0.038	0.015	0.114	0.098	0.067	0.068	0.025	0	0.056	0.041	0.030	0.038	0
BNP Paribas	0	0	0	0	0	0.059	0.034	0.046	0.039	0.100	0.031	0.033	0
Bank of America Corp.	0.502	0.323	0.440	0.464	0.510	0.318	0.420	0.127	0.662	0.394	0.307	0.406	0.148
Bank of Montreal	0.014	0.015	0.008	0.015	0.009	0.006	0.001	0.106	0.100	0.001	0.010	0.003	0
Bank of Nova Scotia	0	0.007	0.033	0.072	0.002	0.004	0	0.002	0.016	0.044	0.032	0.035	0.012
Barclays Bank plc	0.348	0.272	0.142	0.222	0.615	0.296	0.237	0.122	0.163	0.307	0.438	0.290	0.216
Canadian Imperial Bank of Commerce	0	0	0	0	0	0	0	0	0.003	0	0	0	0.003
Citigroup Funding Inc.	0.088	0.032	0.052	0.074	0.053	0.033	0.051	0.046	0.082	0.064	0.011	0.026	0
Citigroup Inc.	0	0	0	0	0	0	0	0	0.005	0.052	0.120	0.092	0.067
Credit Suisse AG, Nassau Branch	0.080	0.102	0.097	0.222	0.171	0.275	0.192	0.184	0.267	0.135	0.268	0.097	0.185
Deutsche Bank AG, London Branch	0.137	0.183	0.110	0.092	0.533	0.060	0.160	0.203	0.181	0.159	0.132	0.055	0.134
Federal Home Loan Banks	0	0	0	0	0	0	0	0	0	0	0	0	0.020
Goldman Sachs Bank USA	0	0.004	0.005	0.010	0	0.013	0.006	0	0	0	0	0	0
Goldman Sachs Group, Inc.	0.408	0.284	0.307	0.231	0.156	0.210	0.319	0.458	0.294	0.337	0.501	0.178	0.300
HSBC USA Inc.	0.526	0.267	0.119	0.238	0.160	0.330	0.213	0.106	0.364	0.351	0.313	0.218	0.140
JPMorgan Chase & Co.	0.284	0.241	0.191	0.362	0.250	0.353	0.317	0.192	0.367	0.402	0.317	0.434	0.466
Lloyds TSB Bank plc	0	0.013	0.005	0.020	0	0	0	0	0.018	0.040	0	0.014	0
Morgan Stanley	0.152	0.119	0.144	0.260	0.199	0.231	0.169	0.190	0.508	0.343	0.276	0.250	0.295
Royal Bank of Canada	0.164	0.262	0.171	0.221	0.270	0.342	0.196	0.169	0.270	0.198	0.201	0.256	0.190
Royal Bank of Scotland plc	0.001	0.001	0.002	0	0	0	0.002	0.001	0	0	0	0	0
UBS AG, Jersey Branch	0.013	0.013	0.010	0.006	0.002	0.026	0.016	0.007	0.002	0.005	0.001	0.003	0.001
UBS AG, London Branch	1.156	0.268	0.195	0.217	0.211	0.187	0.174	0.122	0.146	0.157	0.135	0.145	0.158
Wells Fargo & Co.	0.036	0.045	0.023	0.045	0.029	0.015	0.005	0.020	0.020	0.101	0.012	0.046	0
eUnits 2 Year U.S. Market Participation Trust: Upside to Cap/Buffered Downside	0.020	0	0	0	0	0	0	0	0	0	0	0	0
Total	3.970	2.466	2.167	2.866	3.236	2.826	2.538	2.102	3.564	3.231	3.136	2.617	2.336
	Q3/2012	Count	Q4/2012	Count	Q1/2013	Count	Q2/2013	Count	YTD	Count	Total	Count	Last 12 months	Count	YTD Share
AB Svensk Exportkredit	0.279	8	0.093	3	0.126	6	0.038	3	0.164	9	0.588	25	0.550	22	1.10%
BNP Paribas	0	0	0.138	21	0.170	42	0.033	14	0.202	56	0.341	77	0.341	77	1.35%
Bank of America Corp.	1.414	59	0.865	34	1.362	46	0.554	13	1.916	59	5.020	193	4.518	171	12.87%
Bank of Montreal	0.031	25	0.113	23	0.110	32	0.003	10	0.113	42	0.286	164	0.272	121	0.76%
Bank of Nova Scotia	0.107	17	0.006	2	0.092	16	0.047	6	0.139	22	0.259	43	0.259	43	0.93%
Barclays Bank plc	0.979	176	0.656	171	0.909	175	0.507	125	1.416	300	3.670	777	3.322	712	9.51%
Canadian Imperial Bank of Commerce	0	0	0	0	0.003	1	0.003	1	0.006	2	0.006	2	0.006	2	0.04%
Citigroup Funding Inc.	0.179	26	0.130	21	0.158	22	0.026	3	0.184	25	0.613	91	0.525	79	1.24%
Citigroup Inc.	0	0	0	0	0.176	30	0.159	21	0.335	51	0.335	51	0.335	51	2.25%
Credit Suisse AG, Nassau Branch	0.490	99	0.651	115	0.669	126	0.282	68	0.952	194	2.274	459	2.195	431	6.40%
Deutsche Bank AG, London Branch	0.735	71	0.424	66	0.472	58	0.189	36	0.661	94	2.140	295	2.003	256	4.44%
Federal Home Loan Banks	0	0	0	0	0	0	0.020	1	0.020	1	0.020	1	0.020	1	0.13%
Goldman Sachs Bank USA	0.015	3	0.019	2	0	0	0	0	0	0	0.038	7	0.038	6	0.00%
Goldman Sachs Group, Inc.	0.695	101	0.988	125	1.132	144	0.478	82	1.611	226	3.986	544	3.577	497	10.82%
HSBC USA Inc.	0.517	128	0.648	176	1.029	165	0.358	94	1.386	259	3.345	660	2.818	612	9.31%
JPMorgan Chase & Co.	0.802	228	0.862	265	1.085	275	0.900	222	1.985	497	4.175	1167	3.890	1075	13.34%
Lloyds TSB Bank plc	0.025	2	0	0	0.058	4	0.014	1	0.072	5	0.110	9	0.110	9	0.48%
Morgan Stanley	0.603	89	0.590	99	1.128	151	0.546	95	1.673	246	3.137	476	2.985	456	11.24%
Royal Bank of Canada	0.661	179	0.707	185	0.670	182	0.446	133	1.116	315	2.910	817	2.745	740	7.50%
Royal Bank of Scotland plc	0.002	4	0.003	4	0	0	0	0	0	0	0.007	11	0.007	10	0.00%
UBS AG, Jersey Branch	0.018	7	0.049	7	0.008	5	0.005	3	0.013	8	0.106	32	0.093	27	0.09%
UBS AG, London Branch	0.623	581	0.483	665	0.438	523	0.303	318	0.741	841	3.271	2528	2.115	2282	4.98%
Wells Fargo & Co.	0.096	20	0.040	11	0.133	25	0.046	8	0.179	33	0.396	80	0.360	73	1.20%
eUnits 2 Year U.S. Market Participation Trust: Upside to Cap/Buffered Downside	0	0	0	0	0	0	0	0	0	0	0.020	1	0	0	0.00%
Total	8.269	1823	7.466	1995	9.931	2028	4.953	1257	14.884	3285	37.055	8510	33.085	7753	100.00%
Proceeds
	5/2012	6/2012	7/2012	8/2012	9/2012	10/2012	11/2012	12/2012	1/2013	2/2013	3/2013	4/2013	5/2013
Less than $1 million	0.099	0.086	0.071	0.085	0.089	0.102	0.092	0.086	0.077	0.082	0.081	0.076	0.072
$1-1.99 million	1/1900	1/1900	1/1900	1/1900	1/1900	1/1900	1/1900	1/1900	1/1900	1/1900	1/1900	1/1900	1/1900
$2-2.99 million	0.142	0.146	0.120	0.136	0.108	0.170	0.101	0.152	0.130	0.173	0.148	0.169	0.137
$3-4.99 million	0.220	0.246	0.213	0.267	0.255	0.257	0.218	0.261	0.349	0.311	0.305	0.307	0.351
$5-9.99 million	0.508	0.449	0.334	0.504	0.386	0.422	0.488	0.399	0.503	0.528	0.585	0.610	0.452
$10-14.99 million	0.493	0.303	0.210	0.392	0.335	0.373	0.223	0.194	0.260	0.303	0.432	0.346	0.329
$15-$49.99 million	0.791	0.941	0.729	0.942	0.902	1.127	0.951	0.736	1.402	1.312	1.036	0.654	0.528
$50 million and higher	1.572	0.168	0.350	0.419	1.037	0.259	0.322	0.173	0.722	0.383	0.413	0.324	0.348
Total	3.970	2.466	2.167	2.866	3.236	2.826	2.538	2.102	3.564	3.231	3.136	2.617	2.336
	Q3/2012	Count	Q4/2012	Count	Q1/2013	Count	Q2/2013	Count	YTD	Count	Total	Count	Last 12 months	Count	YTD Share
Less than $1 million	0.246	824	0.279	978	0.240	807	0.148	505	0.388	1312	1.098	3794	0.999	3416	2.61%
$1-1.99 million	0.384	277	0.361	275	0.397	291	0.250	186	0.647	477	1.665	1226	1.519	1120	4.35%
$2-2.99 million	0.364	149	0.423	173	0.451	187	0.306	123	0.757	310	1.831	749	1.690	692	5.09%
$3-4.99 million	0.735	196	0.735	190	0.965	257	0.658	175	1.623	432	3.559	941	3.339	883	10.90%
$5-9.99 million	1.223	182	1.309	192	1.615	236	1.061	154	2.677	390	6.166	903	5.658	828	17.99%
$10-14.99 million	0.937	76	0.790	66	0.995	83	0.675	57	1.670	140	4.193	351	3.700	308	11.22%
$15-$49.99 million	2.573	101	2.815	111	3.750	146	1.183	49	4.932	195	12.052	477	11.261	446	33.14%
$50 million and higher	1.807	18	0.754	10	1.519	21	0.672	8	2.190	29	6.491	69	4.919	60	14.71%
Total	8.269	1823	7.466	1995	9.931	2028	4.953	1257	14.884	3285	37.055	8510	33.085	7753	100.00%
Type
	5/2012	6/2012	7/2012	8/2012	9/2012	10/2012	11/2012	12/2012	1/2013	2/2013	3/2013	4/2013	5/2013
Basket of stocks	0.011	0.038	0.014	0.036	0.017	0.021	0.017	0.137	0.135	0.050	0.034	0.027	0.019
Commodities	0.110	0.212	0.175	0.141	0.452	0.304	0.205	0.134	0.234	0.150	0.298	0.134	0.069
ETF	0.208	0.145	0.089	0.144	0.121	0.166	0.112	0.141	0.152	0.172	0.101	0.107	0.112
Equity index	2.712	1.415	1.348	1.861	2.009	1.366	1.352	1.087	1.954	1.864	1.666	1.454	0.805
Foreign exchange	0.189	0.078	0.050	0.032	0.046	0.031	0.085	0.056	0.148	0.098	0.079	0.054	0.049
Interest rate	0.036	0.002	0.008	0	0.010	0.028	0.028	0	0.074	0.111	0.120	0.077	0.141
Multiple/Other	0.146	0.081	0.048	0.091	0.085	0.156	0.129	0.095	0.100	0.186	0.134	0.103	0.354
Single stock	0.559	0.496	0.435	0.560	0.496	0.754	0.610	0.452	0.768	0.600	0.705	0.661	0.787
Total	3.970	2.466	2.167	2.866	3.236	2.826	2.538	2.102	3.564	3.231	3.136	2.617	2.336
	Q3/2012	Count	Q4/2012	Count	Q1/2013	Count	Q2/2013	Count	YTD	Count	Total	Count	Last 12 months	Count	YTD Share
Basket of stocks	0.066	24	0.176	26	0.218	36	0.046	22	0.264	58	0.554	128	0.543	122	1.77%
Commodities	0.768	82	0.642	76	0.682	58	0.203	40	0.885	98	2.616	305	2.507	285	5.95%
ETF	0.355	142	0.418	146	0.426	141	0.219	81	0.645	222	1.772	615	1.563	559	4.33%
Equity index	5.217	540	3.805	554	5.484	671	2.259	387	7.743	1058	20.892	2501	18.180	2320	52.02%
Foreign exchange	0.129	38	0.173	33	0.324	57	0.103	22	0.426	79	0.994	199	0.806	173	2.86%
Interest rate	0.018	4	0.057	4	0.304	17	0.218	16	0.522	33	0.635	45	0.599	42	3.51%
Multiple/Other	0.225	83	0.381	89	0.420	107	0.458	59	0.877	166	1.709	399	1.563	364	5.89%
Single stock	1.492	910	1.815	1067	2.073	941	1.448	630	3.521	1571	7.882	4318	7.323	3888	23.66%
Total	8.269	1823	7.466	1995	9.931	2028	4.953	1257	14.884	3285	37.055	8510	33.085	7753	100.00%
Structure
	5/2012	6/2012	7/2012	8/2012	9/2012	10/2012	11/2012	12/2012	1/2013	2/2013	3/2013	4/2013	5/2013
ETN	0.721	0.532	0.145	0.918	0.398	0.917	0.431	0.432	1.042	0.768	1.168	0.983	3.073
callable reverse convertible	1/1900	1/1900	1/1900	1/1900	1/1900	1/1900	1/1900	1/1900	1/1900	1/1900	1/1900	1/1900	1/1900
convertible/linked	0.197	0.169	0.054	0.016	0.070	0.036	0.031	0.201	0.182	0.017	0.192	0.024	0.212
increasing calls	0.196	0.123	0.082	0.167	0.116	0.117	0.164	0.049	0.090	0.156	0.124	0.078	0.123
leveraged return	1.348	0.331	0.307	0.430	0.477	0.380	0.537	0.402	0.877	0.777	0.592	0.500	0.294
leveraged return, downside protection	0.107	0.071	0.025	0.021	0	0	0.011	0.015	0.014	0.006	0.001	0	0
leveraged return, partial downside protection	0.636	0.416	0.622	0.742	0.624	0.587	0.571	0.448	0.529	0.570	0.499	0.479	0.334
other/NA	0.997	0.866	0.605	0.814	1.383	0.858	0.685	0.512	0.937	0.946	0.985	0.836	0.619
range	0	0.006	0.003	0.003	0.012	0	0	0	0	0	0	0	0.020
reverse convertible	0.084	0.107	0.101	0.046	0.041	0.120	0.089	0.103	0.157	0.111	0.068	0.090	0.152
steepener	0	0	0	0	0	0	0	0	0.019	0.056	0.010	0.048	0.017
trigger reverse convertible	0.153	0.125	0.131	0.221	0.124	0.118	0.156	0.071	0.094	0.082	0.148	0.093	0.068
Total	4.691	2.998	2.311	3.785	3.634	3.743	2.969	2.534	4.606	3.999	4.304	3.600	5.410
	Q3/2012	Count	Q4/2012	Count	Q1/2013	Count	Q2/2013	Count	YTD	Count	Total	Count	Last 12 months	Count	YTD Share
ETN	1.461	137	1.780	191	2.978	233	4.057	169	7.034	402	11.529	814	10.808	780	32.09%
callable reverse convertible	1.034	412	1.203	555	1.691	604	0.965	371	2.656	975	5.397	2181	5.144	2040	12.12%
convertible/linked	0.140	25	0.268	31	0.391	38	0.236	21	0.627	59	1.401	143	1.204	132	2.86%
increasing calls	0.365	61	0.330	57	0.369	77	0.201	51	0.570	128	1.584	294	1.388	263	2.60%
leveraged return	1.213	74	1.319	99	2.246	159	0.794	77	3.040	236	7.252	462	5.904	435	13.87%
leveraged return, downside protection	0.046	13	0.026	4	0.021	9	0	0	0.021	9	0.271	51	0.164	38	0.10%
leveraged return, partial downside protection	1.988	242	1.606	266	1.597	276	0.813	166	2.411	442	7.057	1094	6.421	1021	11.00%
other/NA	2.802	421	2.056	396	2.868	428	1.455	247	4.324	675	11.045	1821	10.047	1648	19.73%
range	0.018	3	0	0	0	0	0.020	1	0.020	1	0.044	5	0.044	5	0.09%
reverse convertible	0.188	56	0.311	63	0.336	58	0.242	61	0.578	119	1.268	285	1.184	263	2.64%
steepener	0	0	0	0	0.085	7	0.065	7	0.150	14	0.150	14	0.150	14	0.68%
trigger reverse convertible	0.476	516	0.345	524	0.325	372	0.161	255	0.486	627	1.585	2160	1.432	1894	2.22%
Total	9.730	1960	9.246	2186	12.908	2261	9.010	1426	21.918	3687	48.584	9324	43.892	8533	100.00%
Tenor
	5/2012	6/2012	7/2012	8/2012	9/2012	10/2012	11/2012	12/2012	1/2013	2/2013	3/2013	4/2013	5/2013
Less than 1 year	0.202	0.195	0.146	0.123	0.161	0.114	0.097	0.144	0.131	0.080	0.141	0.058	0.251
1	2.211	1.112	0.665	0.947	1.026	1.019	0.976	0.668	1.111	0.857	0.892	0.750	0.707
1.25	0.177	0.199	0.222	0.235	0.230	0.206	0.210	0.056	0.439	0.310	0.294	0.232	0.113
1.5	0.156	0.170	0.116	0.286	0.725	0.176	0.136	0.276	0.154	0.276	0.285	0.263	0.222
1.75	0.031	0	0.005	0.020	0.012	0.010	0.009	0.036	0.004	0.107	0.014	0.032	0.031
2	0.583	0.352	0.322	0.511	0.569	0.506	0.485	0.315	0.669	0.486	0.446	0.337	0.156
2.25 to 4.75 years	0.323	0.229	0.399	0.335	0.203	0.417	0.357	0.319	0.439	0.531	0.572	0.370	0.316
5	0.101	0.084	0.169	0.188	0.121	0.181	0.138	0.153	0.155	0.185	0.143	0.276	0.180
5.25 to 9.75	0.061	0.045	0.042	0.132	0.099	0.124	0.069	0.044	0.116	0.070	0.094	0.074	0.044
10	0.023	0.017	0.022	0.003	0.011	0.025	0.024	0.063	0.077	0.094	0.063	0.055	0.074
10.25 to 14.75	0	0.008	0	0.007	0.013	0	0	0.004	0	0	0	0	0
15	0.068	0.035	0.042	0.044	0.055	0.029	0.020	0.014	0.218	0.100	0.173	0.115	0.174
Longer than 15	0.034	0.020	0.016	0.035	0.011	0.021	0.017	0.010	0.051	0.135	0.018	0.056	0.067
NA	0	0	0	0	0	0	0.001	0	0	0	0	0	0
Total	3.970	2.466	2.167	2.866	3.236	2.826	2.538	2.102	3.564	3.231	3.136	2.617	2.336
	Q3/2012	Count	Q4/2012	Count	Q1/2013	Count	Q2/2013	Count	YTD	Count	Total	Count	Last 12 months	Count	YTD Share
Less than 1 year	0.430	257	0.355	226	0.352	211	0.309	143	0.662	354	1.844	1160	1.642	982	4.45%
1	2.638	807	2.662	946	2.859	827	1.457	498	4.316	1325	12.939	3672	10.728	3348	29.00%
1.25	0.687	44	0.471	50	1.044	52	0.345	39	1.389	91	2.924	226	2.746	205	9.33%
1.5	1.127	172	0.588	187	0.715	185	0.485	118	1.200	303	3.240	757	3.085	706	8.06%
1.75	0.037	9	0.055	9	0.125	13	0.063	15	0.189	28	0.312	49	0.280	46	1.27%
2	1.403	185	1.306	193	1.601	215	0.493	109	2.095	324	5.738	843	5.155	769	14.08%
2.25 to 4.75 years	0.937	149	1.093	167	1.542	225	0.687	130	2.229	355	4.812	769	4.488	720	14.98%
5	0.478	90	0.471	86	0.482	113	0.456	84	0.938	197	2.073	428	1.971	400	6.30%
5.25 to 9.75	0.273	65	0.237	83	0.280	80	0.117	46	0.398	126	1.013	302	0.953	287	2.67%
10	0.036	10	0.112	22	0.233	38	0.129	23	0.362	61	0.550	101	0.527	98	2.43%
10.25 to 14.75	0.020	5	0.004	1	0	0	0	0	0	0	0.032	7	0.032	7	0.00%
15	0.141	19	0.064	10	0.491	45	0.289	36	0.780	81	1.088	127	1.020	118	5.24%
Longer than 15	0.063	11	0.048	9	0.204	24	0.123	16	0.327	40	0.491	63	0.457	61	2.20%
NA	0	0	0.001	6	0	0	0	0	0	0	0.001	6	0.001	6	0.00%
Total	8.269	1823	7.466	1995	9.931	2028	4.953	1257	14.884	3285	37.055	8510	33.085	7753	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.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.