|
|
Post by salsolutions on Dec 2, 2011 12:58:37 GMT 4
Please see the attached Structured Note. It was offered to us and our Principle Partner for purchase. We have had the note verified through DB Clearing and Trading risk What came back was not positive from their perspective. They used a term called Layering. They use this term when someone is going to great lengths to cover up or hide terms of a deal that's red flagged Please take notice of this warning. Buyer Beware. Attachments:
|
|
|
|
Post by ukipa on Dec 2, 2011 23:18:00 GMT 4
When "Moody's, Standard & Poor and Fitch" don't bother to rate an issue, it is time to simply walk away from the offer. No rating = too risky / junk paper.
|
|
|
|
Post by Sapphire Capital on Dec 3, 2011 7:05:14 GMT 4
actually this screen shot has been around quite a while and is an option on call, the owner will loose it if he does not exercise the option; true it is not known why and how and where, just that when the option is exercised a rating of the issuer will be applied to the notes.
it would be interesting to know what DB thought about it when red flagging. DB is doing that a lot when issues are on the table from people the do not want to deal with.
It could be that there are reasons but the Notes are on the euroclear register.
|
|
|
|
Post by Sapphire Capital on Dec 3, 2011 7:20:02 GMT 4
Here is the regular euroclear result Attachments:
|
|
|
|
Post by fireopal on Dec 3, 2011 7:31:00 GMT 4
Layering?? DB is saying BNP Paribas is doing layering?? man thats a first from the formost layering bank in Europe.
Layering is generally seen as:
In the course of layering, there is the first attempt at concealment or disguise of the source of the ownership of the funds by creating complex layers of financial transactions designed to disguise the audit trail and provide anonymity. The purpose of layering is to disassociate the illegal monies from the source of the crime by purposely creating a complex web of financial transactions aimed at concealing any audit trail as well as the source and ownership of funds.
Typically, layers are created by moving monies in and out of the offshore bank accounts of bearer share shell companies through electronic funds' transfer (EFT). Given that there are over 500,000 wire transfers - representing in excess of $1 trillion - electronically circling the globe daily, most of which is legitimate, there isn't enough information disclosed on any single wire transfer to know how clean or dirty the money is, therefore providing an excellent way for launderers to move their dirty money. Other forms used by launderers are complex dealings with stock, commodity and futures brokers. Given the sheer volume of daily transactions, and the high degree of anonymity available, the chances of transactions being traced is insignificant.
However a complex transaction does not mean anything illegal, remember when a bank puts some instrument on euroclear it is their legal responsibility, if they cover or help in some illegal endeavor they would be liable, to avoid that there is general legal checking with 2 lawyers and 2 lawyers in the securities department.
DB saying this is possible layering is very questionable, either it is legal and BNP Paribas stands to it or it is not and than the bank would be in trouble and would have been committed to review and take it of the euroclear.
Anyone buying it from BNP would be clean and clear, it is their obligation.
So the argument :Layering" in my book and in this situation is a fake to warn clients away.
Not that I know the issue here but I know BNP Paribas, professional and all lawyered up.
|
|
|
|
Post by salsolutions on Dec 3, 2011 17:35:18 GMT 4
Thank you all for your assistance on this issue. As a first post on "the boards" I am very impressed at the speed of response and the clear nature of all of these comments and views.
the main issue that happened to us, was that this note was offered to us through a lawyer in the United States, however, when we went back to confirm our interest in buying the said instrument, they all started scratching their heads, only latter did they admit they didn't actually know who the seller of the note was.
Quite Bizzare, however, when we passed it over to our people to see if they could dig into the subject and possibly find out how the owners were, the response was per my previous post.
So the big problem is still - who owns it and are they even aware that it is being offerred for sale? Probably not - even if they have an option on it and it is about to expire.
Once again - thank you for your help
|
|
|
|
Post by niseag on Dec 4, 2011 1:11:21 GMT 4
owner is in London, UK, the backing of the note is German, this is a handover from the old BNP/Dresdner Bank alliance, Commerzbank is structuring, DB can not take it because they own large parts of Commerzbank
|
|
|
|
Post by salsolutions on Dec 5, 2011 12:21:17 GMT 4
Thank you Niseag, once again.
DB will not be taking any part in the purchase, DB were only pulled in, when we hit a brick wall trying to find out who owned the note.
If you are able to pin pinpoint the selling party - please provide your email address and I will contact you thereafter as we wish to discuss a possible purchase by our client.
|
|
|
|
Post by Sapphire Capital on Dec 5, 2011 13:24:40 GMT 4
see your email box
|
|
|
|
Post by salsolutions on Dec 5, 2011 14:20:12 GMT 4
Thank you
|
|
laser
New Member
Posts: 13
|
Post by laser on Feb 21, 2012 13:57:26 GMT 4
is the restricted area available for either purchase or selling MTN or BG. if so what is the password.
If this isn't the area could you please direct me to the right place. Kind regards.
|
|
|
|
Post by Sapphire Capital on Feb 21, 2012 21:59:58 GMT 4
see my private message
|
|
