Frant,
Not in reference to you, but there are no boxes on the market.
Check scamms on the FEDs website and you can see it for yourself.
Have at the link below.
Google with whom you are having a discussion with, The internet is not safe and there are a lot of well wishing Joker Brokers that truely believe the thurd that comes out of their mouths.
Be wiser.
will
http://www.network54.com/Forum/27708/thread/1217175115/1217251521/FC+BG++65%2B1++HSBC++London%2C++UBS++Zurich
FC BG 65+1 HSBC London, UBS Zurich
July 27 2008 at 12:11 PM
No score for this post Vikki (Login k22r22k)
-----------------------------------------------------------------------------
Do you require Fresh Cut or already exisiting?
We have changed some of their procedures to conform to a current 900M Euro note they are currently tranching. There is no longer an "escrow" per se for the existing notes. The purchase capital does need to be verifiable in account somewhere and they will use block & pay procedures. We have an exisiting 500M Euro note pricied at 65+1.
As far as fresh cut the escrow amount has been increased to 4% which covers increased issuance fees. This amount is applied to the cost of the note (65 +1) or is returned to the Buyer in event of seller default.
Below is more info on Fresh Cut purchase & leasing:
Creation of a new instrument:
Option A: We now require a 4% issuance fee (escrow). This fee is deducted from the final cost of the instrument. If the note is 65+1 on new issue, then the buyer would be invoiced 61+1 at closing.
Option B: Buyer may do a table top closing once the funds have been verified by the Applicant and will take 5-10 days. Funds must be on deposit at issuing bank to engage this.
Creation of a leased instrument:
Same as option A/B except the price is 20% for one year, 28% for five years.
Let me know if this helps, or ask k22r22k@yahoo.com