Fixed Income – March 2024
Senior Financials
Senior Financials
ISIN | ISIN | Name | Name | Cpn (%) | Cpn (%) | Maturity | Maturity | Ccy | Ccy | Price | Price | YTM (%) | YTM (%) | Call Date | Call Date | YTC (%) | YTC (%) | Moody's | Moody's | S&P | S&P | Coupon Reset | Coupon Reset | CIO | CIO | Rank | Rank | LV | LV |
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
ISIN | US06051GLC14 | Name | Bank of America | Cpn (%) | 6.204 | Maturity | 11/10/2028 | Ccy | USD | Price | 103.56 | YTM (%) | 5.55 | Call Date | 11/10/2027 | YTC (%) | 5.13 | Moody's | A1 | S&P | A- | Coupon Reset | SOFRRATE + 199 | CIO | Attractive | Rank | Sr Unsecured | LV | 85% |
ISIN | US09659X2U58 | Name | BNP Paribas | Cpn (%) | 5.125 | Maturity | 1/13/2029 | Ccy | USD | Price | 99.74 | YTM (%) | 5.42 | Call Date | 1/13/2028 | YTC (%) | 5.20 | Moody's | Aa3 | S&P | A+ | Coupon Reset | H15T1Y + 145 | CIO | Fair | Rank | Sr Preferred | LV | 85% |
ISIN | US2027A1JZ13 | Name | CBA | Cpn (%) | 3.900 | Maturity | 3/16/2028 | Ccy | USD | Price | 96.63 | YTM (%) | 4.83 | Call Date | - | YTC (%) | - | Moody's | Aa3 | S&P | AA- | Coupon Reset | - | CIO | Fair | Rank | Sr Unsecured | LV | 93% |
ISIN | US22536PAJ03 | Name | Credit Agricole | Cpn (%) | 6.316 | Maturity | 10/3/2029 | Ccy | USD | Price | 103.50 | YTM (%) | 5.71 | Call Date | 10/3/2028 | YTC (%) | 5.44 | Moody's | A3 | S&P | A- | Coupon Reset | SOFRRATE + 186 | CIO | Fair | Rank | Sr Unsecured | LV | 80% |
ISIN | US251526CS67 | Name | Deutsche Bank | Cpn (%) | 6.720 | Maturity | 1/18/2029 | Ccy | USD | Price | 103.21 | YTM (%) | 6.28 | Call Date | 1/18/2028 | YTC (%) | 5.78 | Moody's | Baa1 | S&P | BBB | Coupon Reset | SOFRRATE + 318 | CIO | Attractive | Rank | Sr Non Preferred | LV | 80% |
ISIN | US38145GAM24 | Name | Goldman Sachs | Cpn (%) | 5.798 | Maturity | 8/10/2026 | Ccy | USD | Price | 100.72 | YTM (%) | 5.73 | Call Date | 8/10/2025 | YTC (%) | 5.27 | Moody's | A2 | S&P | BBB+ | Coupon Reset | SOFRRATE + 107.5 | CIO | Attractive | Rank | Sr Unsecured | LV | 80% |
ISIN | US404280CX53 | Name | HSBC | Cpn (%) | 2.251 | Maturity | 11/22/2027 | Ccy | USD | Price | 92.00 | YTM (%) | 5.72 | Call Date | 11/22/2026 | YTC (%) | 5.47 | Moody's | A3 | S&P | A- | Coupon Reset | SOFRRATE + 110 | CIO | Fair | Rank | Sr Unsecured | LV | 85% |
ISIN | US404280DV88 | Name | HSBC | Cpn (%) | 6.254 | Maturity | 3/9/2034 | Ccy | USD | Price | 104.61 | YTM (%) | 5.76 | Call Date | 3/9/2033 | YTC (%) | 5.60 | Moody's | A3 | S&P | A- | Coupon Reset | SOFRRATE + 239 | CIO | Fair | Rank | Sr Unsecured | LV | 70% |
ISIN | US46647PBR64 | Name | JP Morgan | Cpn (%) | 2.182 | Maturity | 6/1/2028 | Ccy | USD | Price | 91.26 | YTM (%) | 5.62 | Call Date | 6/1/2027 | YTC (%) | 5.15 | Moody's | A1 | S&P | A- | Coupon Reset | SOFRRATE + 189 | CIO | Fair | Rank | Sr Unsecured | LV | 85% |
ISIN | US53944YAU73 | Name | Lloyds | Cpn (%) | 4.976 | Maturity | 8/11/2033 | Ccy | USD | Price | 95.80 | YTM (%) | 5.75 | Call Date | 8/11/2032 | YTC (%) | 5.61 | Moody's | A3 | S&P | BBB+ | Coupon Reset | H15T1Y + 230 | CIO | Fair | Rank | Sr Unsecured | LV | 75% |
ISIN | US55608KBN46 | Name | Macquarie | Cpn (%) | 5.887 | Maturity | 6/15/2034 | Ccy | USD | Price | 101.68 | YTM (%) | 5.80 | Call Date | 6/15/2033 | YTC (%) | 5.65 | Moody's | A2 | S&P | BBB+ | Coupon Reset | SOFRRATE + 238 | CIO | Fair | Rank | Sr Unsecured | LV | 60% |
ISIN | US606822CY81 | Name | Mitsubishi UFJ | Cpn (%) | 5.242 | Maturity | 4/19/2029 | Ccy | USD | Price | 100.77 | YTM (%) | 5.31 | Call Date | 4/19/2028 | YTC (%) | 5.03 | Moody's | A1 | S&P | A- | Coupon Reset | H15T1Y + 170 | CIO | Fair | Rank | Sr Unsecured | LV | 80% |
ISIN | US60687YCR80 | Name | Mizuho | Cpn (%) | 5.739 | Maturity | 5/27/2031 | Ccy | USD | Price | 102.13 | YTM (%) | 5.48 | Call Date | 5/27/2030 | YTC (%) | 5.33 | Moody's | A1 | S&P | A- | Coupon Reset | H15T1Y + 165 | CIO | Fair | Rank | Sr Unsecured | LV | 80% |
ISIN | US61747YEV39 | Name | Morgan Stanley | Cpn (%) | 6.296 | Maturity | 10/18/2028 | Ccy | USD | Price | 103.73 | YTM (%) | 5.62 | Call Date | 10/18/2027 | YTC (%) | 5.15 | Moody's | A1 | S&P | A- | Coupon Reset | SOFRRATE + 224 | CIO | Fair | Rank | Sr Unsecured | LV | 85% |
ISIN | US63253QAE44 | Name | National Australia Bank | Cpn (%) | 4.900 | Maturity | 6/13/2028 | Ccy | USD | Price | 100.37 | YTM (%) | 4.80 | Call Date | - | YTC (%) | - | Moody's | Aa3 | S&P | AA- | Coupon Reset | - | CIO | Fair | Rank | Sr Unsecured | LV | 92% |
ISIN | US639057AJ71 | Name | Natwest | Cpn (%) | 5.847 | Maturity | 3/2/2027 | Ccy | USD | Price | 100.66 | YTM (%) | 5.74 | Call Date | 3/2/2026 | YTC (%) | 5.49 | Moody's | A3 | S&P | BBB+ | Coupon Reset | H15T1Y + 135 | CIO | Fair | Rank | Sr Unsecured | LV | 75% |
ISIN | USG84228GC69 | Name | Standard Chartered | Cpn (%) | 6.097 | Maturity | 1/11/2035 | Ccy | USD | Price | 101.62 | YTM (%) | 5.96 | Call Date | 1/11/2034 | YTC (%) | 5.88 | Moody's | A3 | S&P | BBB+ | Coupon Reset | H15T1Y + 210 | CIO | Fair | Rank | Sr Unsecured | LV | 65% |
ISIN | US86562MBP41 | Name | SMFG | Cpn (%) | 3.040 | Maturity | 7/16/2029 | Ccy | USD | Price | 90.59 | YTM (%) | 5.07 | Call Date | - | YTC (%) | - | Moody's | A1 | S&P | A- | Coupon Reset | - | CIO | Fair | Rank | Sr Unsecured | LV | 85% |
ISIN | US89115A2K70 | Name | Toronto-Dominion Bank | Cpn (%) | 5.103 | Maturity | 1/9/2026 | Ccy | USD | Price | 100.36 | YTM (%) | 4.89 | Call Date | - | YTC (%) | - | Moody's | A1 | S&P | A | Coupon Reset | - | CIO | Attractive | Rank | Sr Unsecured | LV | 85% |
ISIN | US89115A2K70 | Name | Toronto-Dominion Bank | Cpn (%) | 5.103 | Maturity | 1/9/2026 | Ccy | USD | Price | 100.67 | YTM (%) | 4.75 | Call Date | - | YTC (%) | - | Moody's | A1 | S&P | A | Coupon Reset | - | CIO | Fair | Rank | Sr Unsecured | LV | 85% |
Tier 2 bonds
Tier 2 bonds
ISIN | ISIN | Name | Name | Cpn (%) | Cpn (%) | Maturity | Maturity | Ccy | Ccy | Price | Price | YTM (%) | YTM (%) | Call Date | Call Date | YTC (%) | YTC (%) | Moody's | Moody's | S&P | S&P | Coupon Reset | Coupon Reset | CIO | CIO | Rank | Rank | LV | LV |
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
ISIN | USQ0426RNE46 | Name | ANZ | Cpn (%) | 2.950 | Maturity | 7/22/2030 | Ccy | USD | Price | 95.76 | YTM (%) | 5.64 | Call Date | 7/22/2025 | YTC (%) | 6.20 | Moody's | Baa1 | S&P | BBB+ | Coupon Reset | H15T5Y + 128.8 | CIO | Fair | Rank | Subordinated | LV | 80% |
ISIN | USX10001AC35 | Name | Allianz | Cpn (%) | 6.350 | Maturity | 9/6/2053 | Ccy | USD | Price | 104.50 | YTM (%) | 6.49 | Call Date | 3/6/2033 | YTC (%) | 5.70 | Moody's | A1 | S&P | A+ | Coupon Reset | H15T5Y + 323.2 | CIO | Fair | Rank | Subordinated | LV | 70% |
ISIN | XS2423359459 | Name | Bank of East Asia | Cpn (%) | 4.875 | Maturity | 4/22/2032 | Ccy | USD | Price | 93.47 | YTM (%) | 6.81 | Call Date | 4/22/2027 | YTC (%) | 7.24 | Moody's | Baa2 | S&P | BBB- | Coupon Reset | H15T5Y + 230 | CIO | Attractive | Rank | Subordinated | LV | 80% |
ISIN | USQ2704MAH18 | Name | CBA | Cpn (%) | 3.784 | Maturity | 3/14/2032 | Ccy | USD | Price | 87.87 | YTM (%) | 5.69 | Call Date | - | YTC (%) | - | Moody's | Baa1 | S&P | BBB+ | Coupon Reset | - | CIO | Fair | Rank | Subordinated | LV | 80% |
ISIN | USF2R125Q730 | Name | Credit Agricole | Cpn (%) | 6.251 | Maturity | 1/10/2035 | Ccy | USD | Price | 100.79 | YTM (%) | 6.27 | Call Date | 1/10/2034 | YTC (%) | 6.14 | Moody's | Baa1 | S&P | BBB+ | Coupon Reset | SOFRRATE + 267 | CIO | Fair | Rank | Subordinated | LV | 65% |
ISIN | US251526CT41 | Name | Deutsche Bank | Cpn (%) | 7.079 | Maturity | 2/10/2034 | Ccy | USD | Price | 100.50 | YTM (%) | 7.15 | Call Date | 11/10/2032 | YTC (%) | 7.00 | Moody's | Baa3 | S&P | BBB- | Coupon Reset | SOFRRATE + 365 | CIO | Attractive | Rank | Subordinated | LV | 65% |
ISIN | US404280DX45 | Name | HSBC | Cpn (%) | 6.547 | Maturity | 6/20/2034 | Ccy | USD | Price | 102.99 | YTM (%) | 6.28 | Call Date | 6/20/2033 | YTC (%) | 6.12 | Moody's | Baa1 | S&P | BBB | Coupon Reset | SOFRRATE + 298 | CIO | Fair | Rank | Subordinated | LV | 65% |
ISIN | USG6S94TAB96 | Name | National Australia Bank | Cpn (%) | 3.933 | Maturity | 8/2/2034 | Ccy | USD | Price | 91.31 | YTM (%) | 5.92 | Call Date | 8/2/2029 | YTC (%) | 5.83 | Moody's | Baa1 | S&P | BBB+ | Coupon Reset | H15T5Y + 188 | CIO | Fair | Rank | Subordinated | LV | 70% |
ISIN | US63859XAD93 | Name | Nationwide | Cpn (%) | 4.000 | Maturity | 9/14/2026 | Ccy | USD | Price | 94.98 | YTM (%) | 6.18 | Call Date | - | YTC (%) | - | Moody's | Baa1 | S&P | BBB | Coupon Reset | - | CIO | Fair | Rank | Subordinated | LV | 85% |
ISIN | US639057AB46 | Name | Natwest | Cpn (%) | 3.032 | Maturity | 11/28/2035 | Ccy | USD | Price | 83.25 | YTM (%) | 6.26 | Call Date | 8/28/2030 | YTC (%) | 6.21 | Moody's | Baa1 | S&P | BBB- | Coupon Reset | H15T5Y + 235 | CIO | Fair | Rank | Subordinated | LV | 65% |
ISIN | US961214EM13 | Name | Westpac | Cpn (%) | 2.894 | Maturity | 2/4/2030 | Ccy | USD | Price | 97.10 | YTM (%) | 5.64 | Call Date | 2/4/2025 | YTC (%) | 6.22 | Moody's | Baa1 | S&P | BBB+ | Coupon Reset | H15T5Y + 135 | CIO | Fair | Rank | Subordinated | LV | 30% |
ISIN | US961214FG36 | Name | Westpac | Cpn (%) | 5.405 | Maturity | 8/10/2033 | Ccy | USD | Price | 98.50 | YTM (%) | 5.80 | Call Date | 8/10/2032 | YTC (%) | 5.63 | Moody's | Baa1 | S&P | BBB+ | Coupon Reset | H15T1Y + 268 | CIO | Fair | Rank | Subordinated | LV | 30% |
European AT1s
European AT1s
USD
ISIN | ISIN | Name | Name | Cpn (%) | Cpn (%) | Maturity | Maturity | Ccy | Ccy | Price | Price | YTM (%) | YTM (%) | Call Date | Call Date | YTC (%) | YTC (%) | Moody's | Moody's | S&P | S&P | Coupon Reset | Coupon Reset | Trigger Method | Trigger Method | CIO | CIO | Rank | Rank | LV | LV |
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
ISIN | US06738EBN40 | Name | Barclays | Cpn (%) | 6.125 | Maturity | Perp | Ccy | USD | Price | 95.75 | YTM (%) | 9.68 | Call Date | 12/15/2025 | YTC (%) | 8.74 | Moody's | Ba1 | S&P | BB- | Coupon Reset | H15T5Y + 586.7 | Trigger Method | E.C. | CIO | Fair | Rank | Jr Subordinated | LV | 45% |
ISIN | US06738ECN31 | Name | Barclays | Cpn (%) | 9.625 | Maturity | Perp | Ccy | USD | Price | 103.99 | YTM (%) | 9.30 | Call Date | 12/15/2029 | YTC (%) | 8.74 | Moody's | Ba1 | S&P | BB- | Coupon Reset | USISSO05 + 577.5 | Trigger Method | E.C. | CIO | Attractive | Rank | Jr Subordinated | LV | 45% |
ISIN | USF1R15XL357 | Name | BNP Paribas | Cpn (%) | 4.625 | Maturity | Perp | Ccy | USD | Price | 80.45 | YTM (%) | 7.89 | Call Date | 2/25/2031 | YTC (%) | 8.39 | Moody's | Ba1 | S&P | BBB- | Coupon Reset | H15T5Y + 334 | Trigger Method | Temp WD | CIO | Fair | Rank | Jr Subordinated | LV | 45% |
ISIN | USF1067PAF39 | Name | BNP Paribas | Cpn (%) | 8.000 | Maturity | Perp | Ccy | USD | Price | 100.22 | YTM (%) | 7.92 | Call Date | 8/22/2031 | YTC (%) | 7.96 | Moody's | Ba1 | S&P | BBB- | Coupon Reset | H15T5Y + 372.7 | Trigger Method | E.C. | CIO | Fair | Rank | Jr Subordinated | LV | 45% |
ISIN | US404280CP20 | Name | HSBC | Cpn (%) | 4.000 | Maturity | Perp | Ccy | USD | Price | 91.78 | YTM (%) | 7.44 | Call Date | 3/9/2026 | YTC (%) | 8.54 | Moody's | Baa3 | S&P | - | Coupon Reset | H15T5Y + 322.2 | Trigger Method | E.C. | CIO | Fair | Rank | Jr Subordinated | LV | 50% |
ISIN | US404280DT33 | Name | HSBC | Cpn (%) | 8.000 | Maturity | Perp | Ccy | USD | Price | 103.70 | YTM (%) | 7.73 | Call Date | 3/7/2028 | YTC (%) | 6.93 | Moody's | Baa3 | S&P | - | Coupon Reset | H15T5Y + 385.8 | Trigger Method | E.C. | CIO | Fair | Rank | Jr Subordinated | LV | 50% |
ISIN | US456837AR44 | Name | ING | Cpn (%) | 5.750 | Maturity | Perp | Ccy | USD | Price | 95.05 | YTM (%) | 8.38 | Call Date | 11/16/2026 | YTC (%) | 7.82 | Moody's | Ba1 | S&P | - | Coupon Reset | H15T5Y + 434.2 | Trigger Method | E.C. | CIO | Fair | Rank | Jr Subordinated | LV | 45% |
ISIN | XS2761357594 | Name | ING | Cpn (%) | 8.000 | Maturity | Perp | Ccy | USD | Price | 100.62 | YTM (%) | 8.12 | Call Date | 5/16/2030 | YTC (%) | 7.87 | Moody's | Ba1 | S&P | - | Coupon Reset | USISSO05 + 436 | Trigger Method | E.C. | CIO | Attractive | Rank | Jr Subordinated | LV | 45% |
ISIN | US53944YAV56 | Name | Lloyds Banking Group | Cpn (%) | 8.000 | Maturity | Perp | Ccy | USD | Price | 99.39 | YTM (%) | 8.10 | Call Date | 9/27/2029 | YTC (%) | 8.14 | Moody's | Baa3 | S&P | BB- | Coupon Reset | H15T5Y + 391.3 | Trigger Method | E.C. | CIO | Attractive | Rank | Jr Subordinated | LV | 30% |
ISIN | US780097BQ34 | Name | Natwest Group | Cpn (%) | 6.000 | Maturity | Perp | Ccy | USD | Price | 98.03 | YTM (%) | 9.25 | Call Date | 12/29/2025 | YTC (%) | 7.17 | Moody's | Baa3 | S&P | BB- | Coupon Reset | H15T5Y + 562.5 | Trigger Method | E.C. | CIO | Fair | Rank | Jr Subordinated | LV | 30% |
ISIN | USF8500RAC63 | Name | Societe Generale | Cpn (%) | 9.375 | Maturity | Perp | Ccy | USD | Price | 103.17 | YTM (%) | 9.20 | Call Date | 11/22/2027 | YTC (%) | 8.36 | Moody's | Ba2 | S&P | BB | Coupon Reset | H15T5Y + 538.5 | Trigger Method | Temp WD | CIO | Attractive | Rank | Jr Subordinated | LV | 50% |
ISIN | USF8500RAA08 | Name | Societe Generale | Cpn (%) | 5.375 | Maturity | Perp | Ccy | USD | Price | 81.03 | YTM (%) | 8.91 | Call Date | 11/18/2030 | YTC (%) | 9.23 | Moody's | Ba2 | S&P | BB | Coupon Reset | H15T5Y + 451.4 | Trigger Method | Temp WD | CIO | Fair | Rank | Jr Subordinated | LV | 45% |
ISIN | USG84228GE26 | Name | Standard Chartered | Cpn (%) | 7.875 | Maturity | Perp | Ccy | USD | Price | 99.52 | YTM (%) | 7.83 | Call Date | 3/8/2030 | YTC (%) | 7.98 | Moody's | - | S&P | - | Coupon Reset | H15T5Y + 357.4 | Trigger Method | E.C. | CIO |
| Rank | Jr Subordinated | LV | 65% |
ISIN | USF8500RAC63 | Name | Societe Generale | Cpn (%) | 9.375 | Maturity | Perp | Ccy | USD | Price | 104.88 | YTM (%) | 8.84 | Call Date | 11/22/2027 | YTC (%) | 7.89 | Moody's | Ba2 | S&P | BB | Coupon Reset | H15T5Y + 538.5 | Trigger Method | Temp WD | CIO | Attractive | Rank | Jr Subordinated | LV | 45% |
ISIN | USF8600KAA46 | Name | Societe Generale | Cpn (%) | 10.000 | Maturity | Perp | Ccy | USD | Price | 107.43 | YTM (%) | 8.89 | Call Date | 11/14/2028 | YTC (%) | 8.11 | Moody's | Ba2 | S&P | BB | Coupon Reset | H15T5Y + 544.8 | Trigger Method | Temp WD | CIO | Attractive | Rank | Jr Subordinated | LV | 45% |
ISIN | USF8500RAA08 | Name | Societe Generale | Cpn (%) | 5.375 | Maturity | Perp | Ccy | USD | Price | 82.10 | YTM (%) | 8.58 | Call Date | 11/18/2030 | YTC (%) | 8.91 | Moody's | Ba2 | S&P | BB | Coupon Reset | H15T5Y + 451.4 | Trigger Method | Temp WD | CIO | Fair | Rank | Jr Subordinated | LV | 45% |
ISIN | USG84228FJ22 | Name | Standard Chartered | Cpn (%) | 7.750 | Maturity | Perp | Ccy | USD | Price | 102.66 | YTM (%) | 8.29 | Call Date | 8/15/2027 | YTC (%) | 6.90 | Moody's | Ba1 | S&P | BB- | Coupon Reset | H15T5Y + 497.6 | Trigger Method | E.C. | CIO | Attractive | Rank | Jr Subordinated | LV | 45% |
GBP
ISIN | ISIN | Name | Name | Cpn (%) | Cpn (%) | Maturity | Maturity | Ccy | Ccy | Price | Price | YTM (%) | YTM (%) | Call Date | Call Date | YTC (%) | YTC (%) | Moody's | Moody's | S&P | S&P | Coupon Reset | Coupon Reset | Trigger Method | Trigger Method | CIO | CIO | Rank | Rank | LV | LV |
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
ISIN | US06738ECN31 | Name | Barclays | Cpn (%) | 9.625 | Maturity | Perp | Ccy | USD | Price | 104.13 | YTM (%) | 9.29 | Call Date | 12/15/2029 | YTC (%) | 8.71 | Moody's | Ba1 | S&P | BB- | Coupon Reset | USISSO05 + 577.5 | Trigger Method | E.C. | CIO | Attractive | Rank | Jr Subordinated | LV | 45% |
ISIN | XS1884698256 | Name | HSBC | Cpn (%) | 5.875 | Maturity | Perp | Ccy | GBP | Price | 95.63 | YTM (%) | 8.19 | Call Date | 9/28/2026 | YTC (%) | 7.79 | Moody's | Baa3 | S&P | - | Coupon Reset | BPSWS5 + 427.6 | Trigger Method | E.C. | CIO | Attractive | Rank | Jr Subordinated | LV | 50% |
ISIN | XS2529511722 | Name | Lloyds Banking Group | Cpn (%) | 8.500 | Maturity | Perp | Ccy | GBP | Price | 101.00 | YTM (%) | 9.38 | Call Date | 9/27/2027 | YTC (%) | 8.17 | Moody's | Baa3 | S&P | BB- | Coupon Reset | GUKG5 + 588.3 | Trigger Method | E.C. | CIO | Attractive | Rank | Jr Subordinated | LV | 30% |
ISIN | XS2258827034 | Name | Natwest | Cpn (%) | 5.125 | Maturity | Perp | Ccy | GBP | Price | 89.88 | YTM (%) | 8.76 | Call Date | 5/12/2027 | YTC (%) | 8.81 | Moody's | Baa3 | S&P | BB- | Coupon Reset | GUKG5 + 498.5 | Trigger Method | E.C. | CIO | Attractive | Rank | Jr Subordinated | LV | 30% |
EUR
ISIN | ISIN | Name | Name | Cpn (%) | Cpn (%) | Maturity | Maturity | Ccy | Ccy | Price | Price | YTM (%) | YTM (%) | Call Date | Call Date | YTC (%) | YTC (%) | Moody's | Moody's | S&P | S&P | Coupon Reset | Coupon Reset | Trigger Method | Trigger Method | CIO | CIO | Rank | Rank | LV | LV |
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
ISIN | FR001400BBL2 | Name | BNP Paribas | Cpn (%) | 6.875 | Maturity | Perp | Ccy | EUR | Price | 103.25 | YTM (%) | 7.02 | Call Date | 12/6/2029 | YTC (%) | 6.19 | Moody's | Ba1 | S&P | BBB- | Coupon Reset | EUSA5 + 464.5 | Trigger Method | Temp WD | CIO | Fair | Rank | Jr Subordinated | LV | 45% |
ISIN | FR001400F067 | Name | Credit Agricole | Cpn (%) | 7.250 | Maturity | Perp | Ccy | EUR | Price | 100.63 | YTM (%) | 6.82 | Call Date | 9/23/2029 | YTC (%) | 6.37 | Moody's | - | S&P | BBB- | Coupon Reset | EUAMDB05 + 444.1 | Trigger Method | Temp WD | CIO | Fair | Rank | Jr Subordinated | LV | 50% |
SGD
ISIN | ISIN | Name | Name | Cpn (%) | Cpn (%) | Maturity | Maturity | Ccy | Ccy | Price | Price | YTM (%) | YTM (%) | Call Date | Call Date | YTC (%) | YTC (%) | Moody's | Moody's | S&P | S&P | Coupon Reset | Coupon Reset | Trigger Method | Trigger Method | CIO | CIO | Rank | Rank | LV | LV |
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
ISIN | XS2498454342 | Name | Barclays | Cpn (%) | 8.300 | Maturity | Perp | Ccy | SGD | Price | 104.30 | YTM (%) | 8.18 | Call Date | 9/15/2027 | YTC (%) | 6.92 | Moody's | Ba1 | S&P | - | Coupon Reset | SDSOA5 + 564.1 | Trigger Method | E.C. | CIO | Attractive | Rank | Jr Subordinated | LV | 40% |
ISIN | FR001400G6X6 | Name | BNP Paribas | Cpn (%) | 5.900 | Maturity | Perp | Ccy | SGD | Price | 100.70 | YTM (%) | 5.66 | Call Date | 2/28/2028 | YTC (%) | 5.70 | Moody's | - | S&P | BBB- | Coupon Reset | SDSOA5 + 267.4 | Trigger Method | Temp WD | CIO | Fair | Rank | Jr Subordinated | LV | 50% |
ISIN | FR001400BPT5 | Name | Societe Generale | Cpn (%) | 8.250 | Maturity | Perp | Ccy | SGD | Price | 100.75 | YTM (%) | 8.42 | Call Date | 7/15/2027 | YTC (%) | 7.98 | Moody's | Ba2 | S&P | BB | Coupon Reset | SDSOA5 + 560 | Trigger Method | Temp WD | CIO | Fair | Rank | Jr Subordinated | LV | 45% |
European Insurance
ISIN | ISIN | Name | Name | Cpn (%) | Cpn (%) | Maturity | Maturity | Ccy | Ccy | Price | Price | YTM (%) | YTM (%) | Call Date | Call Date | YTC (%) | YTC (%) | Moody's | Moody's | S&P | S&P | Coupon Reset | Coupon Reset | Trigger Method | Trigger Method | CIO | CIO | Rank | Rank | LV | LV |
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
ISIN | USX10001AB51 | Name | Allianz | Cpn (%) | 3.200 | Maturity | Perp | Ccy | USD | Price | 80.13 | YTM (%) | 6.95 | Call Date | 10/30/2027 | YTC (%) | 9.96 | Moody's | A3 | S&P | A | Coupon Reset | H15T5Y + 216.5 | Trigger Method | Temp WD | CIO | Fair | Rank | Jr Subordinated | LV | 30% |
Shorter-dated high-grade bonds
ISIN | ISIN | Name | Name | Cpn (%) | Cpn (%) | Maturity | Maturity | Ccy | Ccy | Price | Price | YTM (%) | YTM (%) | Call Date | Call Date | YTC (%) | YTC (%) | Moody's | Moody's | S&P | S&P | Coupon Reset | Coupon Reset | CIO | CIO | Rank | Rank | LV | LV |
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
ISIN | US02079KAD90 | Name | Alphabet | Cpn (%) | 1.100 | Maturity | 8/15/2030 | Ccy | USD | Price | 81.21 | YTM (%) | 4.49 | Call Date | 5/15/2030 | YTC (%) | 4.62 | Moody's | Aa2 | S&P | AA+ | Coupon Reset | - | CIO | Fair | Rank | Sr Unsecured | LV | 91% |
ISIN | US023135CQ73 | Name | Amazon | Cpn (%) | 4.650 | Maturity | 12/1/2029 | Ccy | USD | Price | 100.54 | YTM (%) | 4.54 | Call Date | 10/1/2029 | YTC (%) | 4.54 | Moody's | A1 | S&P | AA | Coupon Reset | - | CIO |
| Rank | Sr Unsecured | LV | 85% |
ISIN | US037833CX61 | Name | Apple | Cpn (%) | 3.000 | Maturity | 6/20/2027 | Ccy | USD | Price | 95.26 | YTM (%) | 4.57 | Call Date | 3/20/2027 | YTC (%) | 4.69 | Moody's | Aaa | S&P | AA+ | Coupon Reset | - | CIO | Fair | Rank | Sr Unsecured | LV | 91% |
ISIN | US084670BS67 | Name | Berkshire Hathaway | Cpn (%) | 3.125 | Maturity | 3/15/2026 | Ccy | USD | Price | 96.91 | YTM (%) | 4.74 | Call Date | 12/15/2025 | YTC (%) | 4.97 | Moody's | Aa2 | S&P | AA | Coupon Reset | - | CIO | Fair | Rank | Sr Unsecured | LV | 94% |
ISIN | US09247XAP69 | Name | Blackrock | Cpn (%) | 3.250 | Maturity | 4/30/2029 | Ccy | USD | Price | 93.84 | YTM (%) | 4.61 | Call Date | 1/30/2029 | YTC (%) | 4.67 | Moody's | Aa3 | S&P | AA- | Coupon Reset | - | CIO | Fair | Rank | Sr Unsecured | LV | 85% |
ISIN | US30303M8L96 | Name | Meta Platforms | Cpn (%) | 4.600 | Maturity | 5/15/2028 | Ccy | USD | Price | 99.91 | YTM (%) | 4.62 | Call Date | 4/15/2028 | YTC (%) | 4.62 | Moody's | A1 | S&P | AA- | Coupon Reset | - | CIO | Fair | Rank | Sr Unsecured | LV | 85% |
ISIN | US594918BY93 | Name | Microsoft Corp | Cpn (%) | 3.300 | Maturity | 2/6/2027 | Ccy | USD | Price | 96.95 | YTM (%) | 4.43 | Call Date | 11/6/2026 | YTC (%) | 4.53 | Moody's | Aaa | S&P | AAA | Coupon Reset | - | CIO | Fair | Rank | Sr Unsecured | LV | 95% |
ISIN | USU74078BZ52 | Name | Nestle | Cpn (%) | 3.625 | Maturity | 9/24/2028 | Ccy | USD | Price | 95.91 | YTM (%) | 4.63 | Call Date | 6/24/2028 | YTC (%) | 4.69 | Moody's | Aa3 | S&P | AA- | Coupon Reset | - | CIO | Fair | Rank | Sr Unsecured | LV | 92% |
ISIN | US931142EX77 | Name | Walmart | Cpn (%) | 3.950 | Maturity | 9/9/2027 | Ccy | USD | Price | 98.24 | YTM (%) | 4.50 | Call Date | 8/9/2027 | YTC (%) | 4.51 | Moody's | Aa2 | S&P | AA | Coupon Reset | - | CIO | Fair | Rank | Sr Unsecured | LV | 92% |
Investment-grade corporates
ISIN | ISIN | Name | Name | Cpn (%) | Cpn (%) | Maturity | Maturity | Ccy | Ccy | Price | Price | YTM (%) | YTM (%) | Call Date | Call Date | YTC (%) | YTC (%) | Moody's | Moody's | S&P | S&P | Coupon Reset | Coupon Reset | CIO | CIO | Rank | Rank | LV | LV |
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
ISIN | US00724PAC32 | Name | Adobe | Cpn (%) | 2.150 | Maturity | 2/1/2027 | Ccy | USD | Price | 93.54 | YTM (%) | 4.55 | Call Date | 12/1/2026 | YTC (%) | 4.69 | Moody's | A2 | S&P | A+ | Coupon Reset | - | CIO | Fair | Rank | Sr Unsecured | LV | 91% |
ISIN | USG0446NAW41 | Name | Anglo American | Cpn (%) | 2.875 | Maturity | 3/17/2031 | Ccy | USD | Price | 84.83 | YTM (%) | 5.51 | Call Date | 12/17/2030 | YTC (%) | 5.59 | Moody's | Baa2 | S&P | BBB+ *- | Coupon Reset | - | CIO | Fair | Rank | Sr Unsecured | LV | 80% |
ISIN | US035240AL43 | Name | Anheuser-Busch Inbev | Cpn (%) | 4.000 | Maturity | 4/13/2028 | Ccy | USD | Price | 97.38 | YTM (%) | 4.71 | Call Date | 1/13/2028 | YTC (%) | 4.75 | Moody's | A3 | S&P | A- | Coupon Reset | - | CIO | Fair | Rank | Sr Unsecured | LV | 85% |
ISIN | US025816CW76 | Name | American Express | Cpn (%) | 4.050 | Maturity | 5/3/2029 | Ccy | USD | Price | 97.35 | YTM (%) | 4.63 | Call Date | 3/3/2029 | YTC (%) | 4.65 | Moody's | A2 | S&P | BBB+ | Coupon Reset | - | CIO | Fair | Rank | Sr Unsecured | LV | 75% |
ISIN | US04636NAB91 | Name | Astrazeneca | Cpn (%) | 2.250 | Maturity | 5/28/2031 | Ccy | USD | Price | 84.62 | YTM (%) | 4.79 | Call Date | 2/28/2031 | YTC (%) | 4.88 | Moody's | A2 | S&P | A | Coupon Reset | - | CIO | Fair | Rank | Sr Unsecured | LV | 85% |
ISIN | US00206RHJ41 | Name | AT&T | Cpn (%) | 2.750 | Maturity | 6/1/2031 | Ccy | USD | Price | 85.78 | YTM (%) | 5.13 | Call Date | 3/1/2031 | YTC (%) | 5.20 | Moody's | Baa2 | S&P | BBB | Coupon Reset | - | CIO | Fair | Rank | Sr Unsecured | LV | 80% |
ISIN | US097023CH65 | Name | Boeing | Cpn (%) | 3.100 | Maturity | 5/1/2026 | Ccy | USD | Price | 95.87 | YTM (%) | 5.15 | Call Date | 3/1/2026 | YTC (%) | 5.32 | Moody's | Baa2 | S&P | BBB- | Coupon Reset | - | CIO |
| Rank | Sr Unsecured | LV | 80% |
ISIN | USG15820DY96 | Name | BT Plc | Cpn (%) | 3.250 | Maturity | 11/8/2029 | Ccy | USD | Price | 90.70 | YTM (%) | 5.16 | Call Date | 8/8/2029 | YTC (%) | 5.24 | Moody's | Baa2 | S&P | BBB | Coupon Reset | - | CIO | Fair | Rank | Sr Unsecured | LV | 80% |
ISIN | US126650DU15 | Name | CVS Health | Cpn (%) | 5.250 | Maturity | 2/21/2033 | Ccy | USD | Price | 99.75 | YTM (%) | 5.29 | Call Date | 11/21/2032 | YTC (%) | 5.29 | Moody's | Baa2 | S&P | BBB | Coupon Reset | - | CIO | Fair | Rank | Sr Unsecured | LV | 75% |
ISIN | US370334CL64 | Name | General Mills | Cpn (%) | 2.875 | Maturity | 4/15/2030 | Ccy | USD | Price | 89.19 | YTM (%) | 4.95 | Call Date | 1/15/2030 | YTC (%) | 5.03 | Moody's | Baa2 | S&P | BBB | Coupon Reset | - | CIO | Fair | Rank | Sr Unsecured | LV | 80% |
ISIN | US37045XDR44 | Name | General Motors | Cpn (%) | 2.350 | Maturity | 2/26/2027 | Ccy | USD | Price | 92.16 | YTM (%) | 5.23 | Call Date | 1/26/2027 | YTC (%) | 5.31 | Moody's | Baa2 | S&P | BBB | Coupon Reset | - | CIO | Fair | Rank | Sr Unsecured | LV | 85% |
ISIN | US375558BZ59 | Name | Gilead Sciences | Cpn (%) | 5.250 | Maturity | 10/15/2033 | Ccy | USD | Price | 101.86 | YTM (%) | 5.00 | Call Date | 7/15/2033 | YTC (%) | 5.00 | Moody's | A3 | S&P | BBB+ | Coupon Reset | - | CIO | Attractive | Rank | Sr Unsecured | LV | 75% |
ISIN | USU37818AR97 | Name | Glencore | Cpn (%) | 4.000 | Maturity | 3/27/2027 | Ccy | USD | Price | 96.72 | YTM (%) | 5.17 | Call Date | 12/27/2026 | YTC (%) | 5.27 | Moody's | Baa1 | S&P | BBB+ | Coupon Reset | - | CIO | Fair | Rank | Sr Unsecured | LV | 80% |
ISIN | US64110LAS51 | Name | Netflix | Cpn (%) | 4.875 | Maturity | 4/15/2028 | Ccy | USD | Price | 100.18 | YTM (%) | 4.82 | Call Date | - | YTC (%) | - | Moody's | Baa2 | S&P | BBB+ | Coupon Reset | - | CIO | Fair | Rank | Sr Unsecured | LV | 85% |
ISIN | US67066GAE44 | Name | Nvidia | Cpn (%) | 3.200 | Maturity | 9/16/2026 | Ccy | USD | Price | 96.75 | YTM (%) | 4.57 | Call Date | 6/16/2026 | YTC (%) | 4.72 | Moody's | A1 | S&P | A+ | Coupon Reset | - | CIO | Fair | Rank | Sr Unsecured | LV | 91% |
ISIN | US68389XBN49 | Name | Oracle | Cpn (%) | 3.250 | Maturity | 11/15/2027 | Ccy | USD | Price | 94.22 | YTM (%) | 4.98 | Call Date | 8/15/2027 | YTC (%) | 5.10 | Moody's | Baa2 | S&P | BBB | Coupon Reset | - | CIO | Attractive | Rank | Sr Unsecured | LV | 75% |
ISIN | US716973AC67 | Name | Pfizer | Cpn (%) | 4.450 | Maturity | 5/19/2028 | Ccy | USD | Price | 98.63 | YTM (%) | 4.81 | Call Date | 4/19/2028 | YTC (%) | 4.82 | Moody's | A2 | S&P | A | Coupon Reset | - | CIO | Fair | Rank | Sr Unsecured | LV | 85% |
ISIN | US716973AE24 | Name | Pfizer | Cpn (%) | 4.750 | Maturity | 5/19/2033 | Ccy | USD | Price | 98.07 | YTM (%) | 5.01 | Call Date | 2/19/2033 | YTC (%) | 5.02 | Moody's | A2 | S&P | A | Coupon Reset | - | CIO | Fair | Rank | Sr Unsecured | LV | 80% |
ISIN | US718172CY31 | Name | Philip Morris | Cpn (%) | 4.750 | Maturity | 2/12/2027 | Ccy | USD | Price | 99.27 | YTM (%) | 5.02 | Call Date | - | YTC (%) | - | Moody's | A2 | S&P | A- | Coupon Reset | - | CIO | Fair | Rank | Sr Unsecured | LV | 85% |
ISIN | US87264ABU88 | Name | T-Mobile | Cpn (%) | 2.625 | Maturity | 2/15/2029 | Ccy | USD | Price | 89.49 | YTM (%) | 5.06 | Call Date | 3/15/2024 | YTC (%) | 530.59 | Moody's | Baa2 | S&P | BBB | Coupon Reset | - | CIO | Fair | Rank | Sr Unsecured | LV | 85% |
ISIN | US92343VES97 | Name | Verizon | Cpn (%) | 3.875 | Maturity | 2/8/2029 | Ccy | USD | Price | 95.59 | YTM (%) | 4.89 | Call Date | 11/8/2028 | YTC (%) | 4.95 | Moody's | Baa1 | S&P | BBB+ | Coupon Reset | - | CIO | Fair | Rank | Sr Unsecured | LV | 85% |
ISIN | US92343VES97 | Name | Verizon | Cpn (%) | 3.875 | Maturity | 2/8/2029 | Ccy | USD | Price | 96.98 | YTM (%) | 4.55 | Call Date | 11/8/2028 | YTC (%) | 4.58 | Moody's | Baa1 | S&P | BBB+ | Coupon Reset | - | CIO | Fair | Rank | Sr Unsecured | LV | 80% |
Resilient credits
ISIN | ISIN | Name | Name | Cpn (%) | Cpn (%) | Maturity | Maturity | Ccy | Ccy | Price | Price | YTM (%) | YTM (%) | Call Date | Call Date | YTC (%) | YTC (%) | Moody's | Moody's | S&P | S&P | Coupon Reset | Coupon Reset | CIO | CIO | Rank | Rank | LV | LV |
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
ISIN | US023135CH74 | Name | Amazon | Cpn (%) | 3.600 | Maturity | 4/13/2032 | Ccy | USD | Price | 92.80 | YTM (%) | 4.68 | Call Date | 1/13/2032 | YTC (%) | 4.71 | Moody's | A1 | S&P | AA | Coupon Reset | - | CIO |
| Rank | Sr Unsecured | LV | 80% |
ISIN | US037833EJ59 | Name | Apple | Cpn (%) | 1.700 | Maturity | 8/5/2031 | Ccy | USD | Price | 81.91 | YTM (%) | 4.61 | Call Date | 5/5/2031 | YTC (%) | 4.70 | Moody's | Aaa | S&P | AA+ | Coupon Reset | - | CIO | Fair | Rank | Sr Unsecured | LV | 85% |
ISIN | US110122CP17 | Name | Bristol-Myers Squibb | Cpn (%) | 3.400 | Maturity | 7/26/2029 | Ccy | USD | Price | 93.68 | YTM (%) | 4.74 | Call Date | 4/26/2029 | YTC (%) | 4.80 | Moody's | A2 | S&P | A | Coupon Reset | - | CIO | Fair | Rank | Sr Unsecured | LV | 80% |
ISIN | US191216CT51 | Name | Coca-Cola | Cpn (%) | 3.450 | Maturity | 3/25/2030 | Ccy | USD | Price | 93.62 | YTM (%) | 4.67 | Call Date | - | YTC (%) | - | Moody's | A1 | S&P | A+ | Coupon Reset | - | CIO | Fair | Rank | Sr Unsecured | LV | 85% |
ISIN | US25243YBB48 | Name | Diageo | Cpn (%) | 2.375 | Maturity | 10/24/2029 | Ccy | USD | Price | 88.37 | YTM (%) | 4.75 | Call Date | 7/24/2029 | YTC (%) | 4.86 | Moody's | A3 | S&P | A- | Coupon Reset | - | CIO | Fair | Rank | Sr Unsecured | LV | 85% |
ISIN | US29446MAF95 | Name | Equinor | Cpn (%) | 3.125 | Maturity | 4/6/2030 | Ccy | USD | Price | 91.94 | YTM (%) | 4.66 | Call Date | 1/6/2030 | YTC (%) | 4.72 | Moody's | Aa2 | S&P | AA- | Coupon Reset | - | CIO | Fair | Rank | Sr Unsecured | LV | 90% |
ISIN | US30231GBK76 | Name | ExxonMobil | Cpn (%) | 3.482 | Maturity | 3/19/2030 | Ccy | USD | Price | 93.96 | YTM (%) | 4.64 | Call Date | 12/19/2029 | YTC (%) | 4.69 | Moody's | Aa2 | S&P | AA- | Coupon Reset | - | CIO | Fair | Rank | Sr Unsecured | LV | 90% |
ISIN | US717081FB45 | Name | Pfizer | Cpn (%) | 1.750 | Maturity | 8/18/2031 | Ccy | USD | Price | 81.21 | YTM (%) | 4.78 | Call Date | 5/18/2031 | YTC (%) | 4.88 | Moody's | A2 | S&P | A | Coupon Reset | - | CIO | Fair | Rank | Sr Unsecured | LV | 70% |
ISIN | US742718FM66 | Name | Procter & Gamble | Cpn (%) | 1.200 | Maturity | 10/29/2030 | Ccy | USD | Price | 80.91 | YTM (%) | 4.56 | Call Date | - | YTC (%) | - | Moody's | Aa3 | S&P | AA- | Coupon Reset | - | CIO | Fair | Rank | Sr Unsecured | LV | 91% |
ISIN | US822582CG52 | Name | Shell | Cpn (%) | 2.750 | Maturity | 4/6/2030 | Ccy | USD | Price | 89.73 | YTM (%) | 4.71 | Call Date | 1/6/2030 | YTC (%) | 4.79 | Moody's | Aa2 | S&P | A+ | Coupon Reset | - | CIO | Fair | Rank | Sr Unsecured | LV | 85% |
ISIN | USN82008BA54 | Name | Siemens | Cpn (%) | 2.150 | Maturity | 3/11/2031 | Ccy | USD | Price | 83.95 | YTM (%) | 4.88 | Call Date | - | YTC (%) | - | Moody's | Aa3 | S&P | AA- | Coupon Reset | - | CIO | Fair | Rank | Sr Unsecured | LV | 80% |
ISIN | US89153VAT61 | Name | TotalEnergies | Cpn (%) | 2.829 | Maturity | 1/10/2030 | Ccy | USD | Price | 90.43 | YTM (%) | 4.72 | Call Date | 10/10/2029 | YTC (%) | 4.80 | Moody's | A1 | S&P | A+ | Coupon Reset | - | CIO | Fair | Rank | Sr Unsecured | LV | 85% |
ISIN | US931142FD05 | Name | Walmart | Cpn (%) | 4.100 | Maturity | 4/15/2033 | Ccy | USD | Price | 95.68 | YTM (%) | 4.69 | Call Date | 1/15/2033 | YTC (%) | 4.70 | Moody's | Aa2 | S&P | AA | Coupon Reset | - | CIO | Fair | Rank | Sr Unsecured | LV | 85% |
Short-duration high-grade (AA-rated) bonds
ISIN | ISIN | Name | Name | Cpn (%) | Cpn (%) | Maturity | Maturity | Ccy | Ccy | Price | Price | YTM (%) | YTM (%) | Call Date | Call Date | YTC (%) | YTC (%) | Moody's | Moody's | S&P | S&P | Coupon Reset | Coupon Reset | CIO | CIO | Rank | Rank | LV | LV |
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
ISIN | XS2643259786 | Name | Korea East-West Power | Cpn (%) | 4.875 | Maturity | 7/12/2028 | Ccy | USD | Price | 99.44 | YTM (%) | 5.02 | Call Date | - | YTC (%) | - | Moody's | Aa2 | S&P | - | Coupon Reset | - | CIO | Attractive | Rank | Sr Unsecured | LV | 92% |
ISIN | USY4907LAG78 | Name | Korea Electric Power | Cpn (%) | 5.375 | Maturity | 7/31/2026 | Ccy | USD | Price | 100.59 | YTM (%) | 5.12 | Call Date | - | YTC (%) | - | Moody's | Aa2 | S&P | AA | Coupon Reset | - | CIO | Attractive | Rank | Sr Unsecured | LV | 93% |
ISIN | US50066CAU36 | Name | Korea Gas | Cpn (%) | 4.875 | Maturity | 7/5/2028 | Ccy | USD | Price | 99.92 | YTM (%) | 4.89 | Call Date | - | YTC (%) | - | Moody's | Aa2 | S&P | AA | Coupon Reset | - | CIO | Attractive | Rank | Sr Unsecured | LV | 92% |
ISIN | XS2489897343 | Name | Korea Western Power | Cpn (%) | 4.125 | Maturity | 6/28/2025 | Ccy | USD | Price | 98.37 | YTM (%) | 5.42 | Call Date | - | YTC (%) | - | Moody's | Aa2 | S&P | AA | Coupon Reset | - | CIO | Fair | Rank | Sr Unsecured | LV | 93% |
ISIN | XS1323910254 | Name | SP PowerAssets | Cpn (%) | 3.250 | Maturity | 11/24/2025 | Ccy | USD | Price | 97.18 | YTM (%) | 4.98 | Call Date | - | YTC (%) | - | Moody's | Aa1 | S&P | AA+ | Coupon Reset | - | CIO | Attractive | Rank | Sr Unsecured | LV | 94% |
ISIN | XS2163022739 | Name | ST Engineering | Cpn (%) | 1.500 | Maturity | 4/29/2025 | Ccy | USD | Price | 95.80 | YTM (%) | 5.32 | Call Date | 1/29/2025 | YTC (%) | 6.40 | Moody's | - | S&P | AA+ | Coupon Reset | - | CIO | Attractive | Rank | Sr Unsecured | LV | 93% |
ISIN | XS2620557285 | Name | ST Engineering | Cpn (%) | 4.125 | Maturity | 5/23/2026 | Ccy | USD | Price | 98.18 | YTM (%) | 5.00 | Call Date | 4/23/2026 | YTC (%) | 5.04 | Moody's | Aaa | S&P | - | Coupon Reset | - | CIO | Fair | Rank | Sr Unsecured | LV | 96% |
ISIN | US872898AF83 | Name | TSMC | Cpn (%) | 3.875 | Maturity | 4/22/2027 | Ccy | USD | Price | 97.30 | YTM (%) | 4.81 | Call Date | 3/22/2027 | YTC (%) | 4.84 | Moody's | Aa3 | S&P | AA- | Coupon Reset | - | CIO | Fair | Rank | Sr Unsecured | LV | 93% |
Short-duration A-rated bonds
ISIN | ISIN | Name | Name | Cpn (%) | Cpn (%) | Maturity | Maturity | Ccy | Ccy | Price | Price | YTM (%) | YTM (%) | Call Date | Call Date | YTC (%) | YTC (%) | Moody's | Moody's | S&P | S&P | Coupon Reset | Coupon Reset | CIO | CIO | Rank | Rank | LV | LV |
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
ISIN | US00131MAN39 | Name | AIA | Cpn (%) | 5.625 | Maturity | 10/25/2027 | Ccy | USD | Price | 102.49 | YTM (%) | 4.87 | Call Date | 9/25/2027 | YTC (%) | 4.85 | Moody's | A1 | S&P | A+ | Coupon Reset | - | CIO | Fair | Rank | Sr Unsecured | LV | 85% |
ISIN | US09681MAB46 | Name | BOC Aviation | Cpn (%) | 3.875 | Maturity | 4/27/2026 | Ccy | USD | Price | 97.24 | YTM (%) | 5.25 | Call Date | 1/27/2026 | YTC (%) | 5.43 | Moody's | - | S&P | A- | Coupon Reset | - | CIO | Fair | Rank | Sr Unsecured | LV | 90% |
ISIN | USG46747AB00 | Name | CK Hutchison | Cpn (%) | 3.625 | Maturity | 10/31/2024 | Ccy | USD | Price | 98.82 | YTM (%) | 5.48 | Call Date | - | YTC (%) | - | Moody's | A2 | S&P | A | Coupon Reset | - | CIO | Fair | Rank | Sr Unsecured | LV | 93% |
ISIN | XS0546241075 | Name | Hong Kong Land | Cpn (%) | 4.500 | Maturity | 10/7/2025 | Ccy | USD | Price | 98.75 | YTM (%) | 5.33 | Call Date | - | YTC (%) | - | Moody's | A2 | S&P | A | Coupon Reset | - | CIO | Fair | Rank | Sr Unsecured | LV | 90% |
ISIN | USY7S272AF91 | Name | POSCO | Cpn (%) | 5.625 | Maturity | 1/17/2026 | Ccy | USD | Price | 100.59 | YTM (%) | 5.28 | Call Date | - | YTC (%) | - | Moody's | Baa1 | S&P | A- | Coupon Reset | - | CIO | Fair | Rank | Sr Unsecured | LV | 80% |
Short-duration BBB-rated and other bonds
ISIN | ISIN | Name | Name | Cpn (%) | Cpn (%) | Maturity | Maturity | Ccy | Ccy | Price | Price | YTM (%) | YTM (%) | Call Date | Call Date | YTC (%) | YTC (%) | Moody's | Moody's | S&P | S&P | Coupon Reset | Coupon Reset | CIO | CIO | Rank | Rank | LV | LV |
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
ISIN | USY7141BAA18 | Name | Freeport Indonesia | Cpn (%) | 4.763 | Maturity | 4/14/2027 | Ccy | USD | Price | 97.92 | YTM (%) | 5.50 | Call Date | 3/14/2027 | YTC (%) | 5.52 | Moody's | Baa3 | S&P | - | Coupon Reset | - | CIO | Attractive | Rank | Sr Unsecured | LV | 80% |
ISIN | XS1551355149 | Name | Genting Overseas | Cpn (%) | 4.250 | Maturity | 1/24/2027 | Ccy | USD | Price | 96.35 | YTM (%) | 5.64 | Call Date | - | YTC (%) | - | Moody's | Baa2 | S&P | - | Coupon Reset | - | CIO | Fair | Rank | Sr Unsecured | LV | 80% |
ISIN | US44891CBD48 | Name | Hyundai Capital America | Cpn (%) | 3.500 | Maturity | 11/2/2026 | Ccy | USD | Price | 95.46 | YTM (%) | 5.35 | Call Date | 9/2/2026 | YTC (%) | 5.47 | Moody's | A3 | S&P | BBB+ | Coupon Reset | - | CIO | Fair | Rank | Sr Unsecured | LV | 85% |
ISIN | USY7140WAC20 | Name | Indonesia Asahan Aluminium | Cpn (%) | 6.530 | Maturity | 11/15/2028 | Ccy | USD | Price | 104.00 | YTM (%) | 5.55 | Call Date | - | YTC (%) | - | Moody's | Baa2 | S&P | - | Coupon Reset | - | CIO | Fair | Rank | Sr Unsecured | LV | 80% |
ISIN | XS2125052261 | Name | Lenovo | Cpn (%) | 5.875 | Maturity | 4/24/2025 | Ccy | USD | Price | 100.27 | YTM (%) | 5.62 | Call Date | - | YTC (%) | - | Moody's | - | S&P | - | Coupon Reset | - | CIO | Fair | Rank | Sr Unsecured | LV | 80% |
ISIN | XS1372846003 | Name | NTPC | Cpn (%) | 4.250 | Maturity | 2/26/2026 | Ccy | USD | Price | 97.99 | YTM (%) | 5.33 | Call Date | - | YTC (%) | - | Moody's | - | S&P | BBB- | Coupon Reset | - | CIO | Fair | Rank | Sr Unsecured | LV | 85% |
ISIN | US71568QAC15 | Name | PLN | Cpn (%) | 4.125 | Maturity | 5/15/2027 | Ccy | USD | Price | 96.63 | YTM (%) | 5.29 | Call Date | - | YTC (%) | - | Moody's | Baa2 | S&P | - | Coupon Reset | - | CIO | Fair | Rank | Sr Unsecured | LV | 80% |
ISIN | US74947MAD48 | Name | REC Limited | Cpn (%) | 5.625 | Maturity | 4/11/2028 | Ccy | USD | Price | 100.96 | YTM (%) | 5.36 | Call Date | - | YTC (%) | - | Moody's | Baa3 | S&P | - | Coupon Reset | - | CIO | Fair | Rank | Sr Unsecured | LV | 80% |
ISIN | US80007RAE53 | Name | Sands China | Cpn (%) | 5.400 | Maturity | 8/8/2028 | Ccy | USD | Price | 97.55 | YTM (%) | 6.04 | Call Date | 5/8/2028 | YTC (%) | 6.07 | Moody's | Baa2 | S&P | BBB- | Coupon Reset | - | CIO | Attractive | Rank | Sr Unsecured | LV | 75% |
ISIN | USY8085FBJ85 | Name | SK Hynix | Cpn (%) | 6.250 | Maturity | 1/17/2026 | Ccy | USD | Price | 101.30 | YTM (%) | 5.50 | Call Date | - | YTC (%) | - | Moody's | Baa2 | S&P | BBB- | Coupon Reset | - | CIO | Fair | Rank | Sr Unsecured | LV | 80% |
ISIN | USY8085FBU31 | Name | SK Hynix | Cpn (%) | 5.500 | Maturity | 1/16/2029 | Ccy | USD | Price | 100.24 | YTM (%) | 5.44 | Call Date | - | YTC (%) | - | Moody's | Baa2 | S&P | BBB- | Coupon Reset | - | CIO | Fair | Rank | Sr Unsecured | LV | 80% |
ISIN | XS2284332769 | Name | Singapore Airlines | Cpn (%) | 3.000 | Maturity | 7/20/2026 | Ccy | USD | Price | 94.97 | YTM (%) | 5.28 | Call Date | 6/20/2026 | YTC (%) | 5.36 | Moody's | - | S&P | - | Coupon Reset | - | CIO | Fair | Rank | Sr Unsecured | LV | 70% |
Long duration A – AAA rated bonds
ISIN | ISIN | Name | Name | Cpn (%) | Cpn (%) | Maturity | Maturity | Ccy | Ccy | Price | Price | YTM (%) | YTM (%) | Call Date | Call Date | YTC (%) | YTC (%) | Moody's | Moody's | S&P | S&P | Coupon Reset | Coupon Reset | CIO | CIO | Rank | Rank | LV | LV |
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
ISIN | US00131MAP86 | Name | AIA | Cpn (%) | 4.950 | Maturity | 4/4/2033 | Ccy | USD | Price | 100.31 | YTM (%) | 4.91 | Call Date | 1/4/2033 | YTC (%) | 4.91 | Moody's | A1 | S&P | A+ | Coupon Reset | - | CIO | Fair | Rank | Sr Unsecured | LV | 80% |
ISIN | US00131MAK99 | Name | AIA | Cpn (%) | 3.200 | Maturity | 9/16/2040 | Ccy | USD | Price | 75.35 | YTM (%) | 5.49 | Call Date | 3/16/2040 | YTC (%) | 5.54 | Moody's | A2 | S&P | A | Coupon Reset | - | CIO | Attractive | Rank | Subordinated | LV | 70% |
ISIN | USY000AKAD95 | Name | Airport Authority HK | Cpn (%) | 3.250 | Maturity | 1/12/2052 | Ccy | USD | Price | 74.12 | YTM (%) | 4.98 | Call Date | 7/12/2051 | YTC (%) | 5.00 | Moody's | - | S&P | AA+ | Coupon Reset | - | CIO | Fair | Rank | Sr Unsecured | LV | 75% |
ISIN | USG21819AB63 | Name | CK Hutchison | Cpn (%) | 4.875 | Maturity | 4/21/2033 | Ccy | USD | Price | 99.47 | YTM (%) | 4.95 | Call Date | 1/21/2033 | YTC (%) | 4.95 | Moody's | A2 | S&P | A | Coupon Reset | - | CIO | Fair | Rank | Sr Unsecured | LV | 80% |
ISIN | XS2364591367 | Name | CLP Power | Cpn (%) | 2.250 | Maturity | 7/21/2031 | Ccy | USD | Price | 83.89 | YTM (%) | 4.88 | Call Date | - | YTC (%) | - | Moody's | A1 | S&P | A+ | Coupon Reset | - | CIO | Fair | Rank | Sr Unsecured | LV | 85% |
ISIN | US30217G2E95 | Name | Korea Eximbank | Cpn (%) | 4.625 | Maturity | 6/7/2033 | Ccy | USD | Price | 98.47 | YTM (%) | 4.83 | Call Date | - | YTC (%) | - | Moody's | Aa2 | S&P | AA | Coupon Reset | - | CIO | Attractive | Rank | Sr Unsecured | LV | 85% |
ISIN | US500630DX39 | Name | Korea Development Bank | Cpn (%) | 4.375 | Maturity | 2/15/2033 | Ccy | USD | Price | 96.69 | YTM (%) | 4.84 | Call Date | - | YTC (%) | - | Moody's | Aa2 | S&P | AA | Coupon Reset | - | CIO | Attractive | Rank | Sr Unsecured | LV | 85% |
ISIN | XS2648476302 | Name | Hongkong Land | Cpn (%) | 5.250 | Maturity | 7/14/2033 | Ccy | USD | Price | 99.43 | YTM (%) | 5.33 | Call Date | 4/14/2033 | YTC (%) | 5.33 | Moody's | A2 | S&P | A | Coupon Reset | - | CIO | Fair | Rank | Sr Unsecured | LV | 80% |
ISIN | US50066CAR07 | Name | Korea Gas | Cpn (%) | 2.000 | Maturity | 7/13/2031 | Ccy | USD | Price | 82.12 | YTM (%) | 4.93 | Call Date | - | YTC (%) | - | Moody's | Aa2 | S&P | AA | Coupon Reset | - | CIO | Attractive | Rank | Sr Unsecured | LV | 85% |
ISIN | USY68856AT38 | Name | Petronas | Cpn (%) | 3.500 | Maturity | 4/21/2030 | Ccy | USD | Price | 92.10 | YTM (%) | 5.01 | Call Date | 1/21/2030 | YTC (%) | 5.07 | Moody's | A2 | S&P | A- | Coupon Reset | - | CIO | Fair | Rank | Sr Unsecured | LV | 85% |
ISIN | USG91139AL26 | Name | TSMC | Cpn (%) | 4.625 | Maturity | 7/22/2032 | Ccy | USD | Price | 99.84 | YTM (%) | 4.65 | Call Date | 4/22/2032 | YTC (%) | 4.65 | Moody's | Aa3 | S&P | AA- | Coupon Reset | - | CIO | Fair | Rank | Sr Unsecured | LV | 85% |
Long duration BBB-rated bonds and others
ISIN | ISIN | Name | Name | Cpn (%) | Cpn (%) | Maturity | Maturity | Ccy | Ccy | Price | Price | YTM (%) | YTM (%) | Call Date | Call Date | YTC (%) | YTC (%) | Moody's | Moody's | S&P | S&P | Coupon Reset | Coupon Reset | CIO | CIO | Rank | Rank | LV | LV |
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
ISIN | US30216KAG76 | Name | Export-Import Bank of India | Cpn (%) | 5.500 | Maturity | 1/18/2033 | Ccy | USD | Price | 101.77 | YTM (%) | 5.25 | Call Date | - | YTC (%) | - | Moody's | Baa3 | S&P | BBB- | Coupon Reset | - | CIO | Fair | Rank | Sr Unsecured | LV | 75% |
ISIN | USY7141BAB90 | Name | Freeport Indonesia | Cpn (%) | 5.315 | Maturity | 4/14/2032 | Ccy | USD | Price | 97.13 | YTM (%) | 5.76 | Call Date | 1/1/2032 | YTC (%) | 5.78 | Moody's | Baa3 | S&P | - | Coupon Reset | - | CIO | Attractive | Rank | Sr Unsecured | LV | 75% |
ISIN | USY7141BAC73 | Name | Freeport Indonesia | Cpn (%) | 6.200 | Maturity | 4/14/2052 | Ccy | USD | Price | 96.75 | YTM (%) | 6.45 | Call Date | 10/14/2051 | YTC (%) | 6.45 | Moody's | Baa3 | S&P | - | Coupon Reset | - | CIO | Fair | Rank | Sr Unsecured | LV | 65% |
ISIN | XS2349180104 | Name | Indofood CBP | Cpn (%) | 3.398 | Maturity | 6/9/2031 | Ccy | USD | Price | 86.25 | YTM (%) | 5.74 | Call Date | 12/9/2030 | YTC (%) | 5.89 | Moody's | Baa3 | S&P | - | Coupon Reset | - | CIO | Fair | Rank | Sr Unsecured | LV | 80% |
ISIN | USY7140WAF50 | Name | Indonesia Asahan Aluminium | Cpn (%) | 5.450 | Maturity | 5/15/2030 | Ccy | USD | Price | 98.38 | YTM (%) | 5.76 | Call Date | 2/15/2030 | YTC (%) | 5.78 | Moody's | Baa2 | S&P | - | Coupon Reset | - | CIO | Fair | Rank | Sr Unsecured | LV | 80% |
ISIN | US71568QAF46 | Name | PLN | Cpn (%) | 6.150 | Maturity | 5/21/2048 | Ccy | USD | Price | 98.50 | YTM (%) | 6.27 | Call Date | - | YTC (%) | - | Moody's | Baa2 | S&P | - | Coupon Reset | - | CIO | Fair | Rank | Sr Unsecured | LV | 70% |
ISIN | US69370RAH03 | Name | Pertamina | Cpn (%) | 3.100 | Maturity | 8/27/2030 | Ccy | USD | Price | 88.63 | YTM (%) | 5.19 | Call Date | 5/25/2030 | YTC (%) | 5.27 | Moody's | Baa2 | S&P | - | Coupon Reset | - | CIO | Fair | Rank | Sr Unsecured | LV | 80% |
ISIN | USY7S272AH57 | Name | POSCO | Cpn (%) | 5.875 | Maturity | 1/17/2033 | Ccy | USD | Price | 103.68 | YTM (%) | 5.35 | Call Date | - | YTC (%) | - | Moody's | Baa1 | S&P | A- | Coupon Reset | - | CIO | Fair | Rank | Sr Unsecured | LV | 75% |
ISIN | USY7150MAF42 | Name | PTTEP | Cpn (%) | 2.993 | Maturity | 1/15/2030 | Ccy | USD | Price | 89.25 | YTM (%) | 5.14 | Call Date | 7/15/2029 | YTC (%) | 5.33 | Moody's | Baa1 | S&P | - | Coupon Reset | - | CIO | Fair | Rank | Sr Unsecured | LV | 80% |
ISIN | USY72570AS69 | Name | Reliance Industries | Cpn (%) | 2.875 | Maturity | 1/12/2032 | Ccy | USD | Price | 85.12 | YTM (%) | 5.21 | Call Date | - | YTC (%) | - | Moody's | Baa2 | S&P | BBB+ | Coupon Reset | - | CIO | Fair | Rank | Sr Unsecured | LV | 80% |
ISIN | US455780DR40 | Name | Republic of Indonesia | Cpn (%) | 4.850 | Maturity | 1/11/2033 | Ccy | USD | Price | 98.88 | YTM (%) | 5.01 | Call Date | 10/11/2032 | YTC (%) | 5.01 | Moody's | Baa2 | S&P | BBB | Coupon Reset | - | CIO | Fair | Rank | Sr Unsecured | LV | 75% |
ISIN | US718286CN52 | Name | Republic of the Philippines | Cpn (%) | 1.950 | Maturity | 1/6/2032 | Ccy | USD | Price | 80.50 | YTM (%) | 4.99 | Call Date | - | YTC (%) | - | Moody's | Baa2 | S&P | BBB+ | Coupon Reset | - | CIO | Fair | Rank | Sr Unsecured | LV | 80% |
Disclosures
Disclosures
You may consider an investment in this product, if
You are an experienced investor familiar with fixed income securities and the bond markets in general, and with subordinated capital instruments
You have an investment horizon that matches the Tenor of the specific bond in which you are investing. You also understand you may hold investment for an indefinite period of time if the Issuer does not exercise the call, or if illiquid market conditions prevent the sale of the instrument.
You expect the product to be redeemed by the Issuer at 100% (or other amount as specified for the bond in which you are investing) at maturity.
You require regular income payments (if any). In the case of zero coupon bonds, you are comfortable that there will be no coupon during the investment period. You are aware that mark to market of the bonds could place your capital at risk
You are prepared to accept the risks associated with subordinated capital bonds as described herein, including conversion and write-down risks in the case of contingent
capital securities with loss absorption.
You are prepared to accept the risks associated as described herein.
You are a Professional Investor in Hong Kong and / or an Accredited Investor in Singapore
Summary of main bond-specific benefit
Coupon payments during the life of the bond (coupons can be fixed or variable depending on the structure of the bond)
Risks Associated with Investing in Bonds
Bonds may expose an investor to one or more of the following risks:
- Interest rate risk
- Credit risk/Default risk
- Re-investment risk/Call risk
- Extension risk/Non-call risk
- Inflation risk
- Liquidity risk
- Foreign exchange risk
- Convertibility risk (for example: offshore CNY bonds)
For hybrid capital instruments (eg Tier 2, Additional Tier 1 bonds), there are additional risks on top of those mentioned above:
- Regulatory par call risk
- Tax call risk
- Subordination risk
- Rating methodology event risk
Risk associated with discontinuation of benchmark rates
Please note that there may be risks associated with certain benchmark rates, especially interbank offered rates, such as LIBOR, which will be permanently discontinued. These risks include the replacement of such benchmark rate by a currently still unknown successor which may not have the same characteristics as the benchmark rate underlying this product. Investors should make their own assessment about the potential risks associated with this kind of benchmark rate replacement (e.g. valuation risks or unforeseen costs), including by referring to the Issuer's product documentation where available, and consult their own independent advisers as necessary.
Risk Factors for Marketing Material related to RMB deposit or RMB investment products
RMB currency risk - RMB is currently not freely convertible and conversion of RMB through banks in Hong Kong is subject to certain restrictions (e.g. for individual customer, conversion of RMB is subject to a daily limit per account holder per day and RMB exchange service is not guaranteed for corporate customers). You should allow time for conversion of RMB from/to another currency of an amount exceeding the daily limit. For RMB products which are not denominated in RMB or with underlying investments which are not RMB-denominated, such products will be subject to multiple currency conversion costs involved in making investments and liquidating investments, as well as the RMB exchange rate fluctuations and bid/offer spreads when assets are sold to meet red emption requests and other capital requirements (e.g. settling operating expenses).
Investment or market risk - RMB products are subject to investment risk and your invested capital may be at risk, i.e. the assets that the products invest in or referenced
to may fall as well as rise, resulting in gains or losses to the product. This means that you may suffer a loss even if RMB appreciates.
Exchange rate risk - the value of your RMB deposit/products will be subject to the risk of exchange rate fluctuation. If you choose to convert your RMB deposit/products
to other currencies at an exchange rate that is less favorable than that in which you made your original conversion to RMB, you may suffer loss in principal.
Limited availability of underlying investment products - for RMB products that do not have access to invest in Mainland China, the available choice of underlying investments denominated in RMB outside Mainland China may be limited. This might adversely affect the return and performance of the RMB products.
Possibility of not receiving RMB upon redemption - for RMB products with a significant portion of non-RMB denominated underlying investments, there is a possibility of not receiving full amount in RMB upon redemption. This may be the case if the issuer is not able to obtain sufficient amount of RMB in a timely manner due to the exchange controls and restrictions applicable to the currency.
Liquidity risk - RMB products may suffer significant losses in liquidating the underlying investment if such investments do not have an active secondary market and their prices have large bid/offer spreads.
Credit risk of counterparties - For RMB products invested in RMB debt instruments not supported by any collateral, such products are fully exposed to the credit risk of the relevant counterparties. Where a RMB product may invest in derivative instruments, counterparty risk may also arise as the default by the derivative issuers may adversely affect the performance of the RMB product and result in substantial loss.
Interest rate risk - For RMB products which are, or may invest in, RMB debt instruments, such instruments are susceptible to interest rate fluctuations, which may adversely affect the return and performance of the RMB products.
Long term commitment to investment products - for RMB products which involve a long period of investment, if you redeem your investment before the maturity date or during the lock-up period (if applicable), you may incur a significant loss of principal where the proceeds may be substantially lower than your invested amount. You may also suffer from early surrender / redemption / withdrawal fees and/or charges as well as the loss of returns (where appl icable) as a result of redemption before the maturity date or during the lock-up period.
Additional Disclosures
This product is not listed on any stock exchange and is not covered by the Investor Compensation Fund established under the SFO in Hong Kong.
Unless specifically stated, this product is not secured by any of the Issuer's assets or any collateral. The product constitutes general unsecured obligations of the Issuer and no other person. An investor in this product is subject to the credit and default risk of the Issuer.
For explanations of credit ratings that may be mentioned in this document, you can refer to the relevant Rating Agencies' websites. A credit rating (i) is not a recommendation, (ii) is not necessarily an indication of liquidity or volatility, and (iii) may be downgraded if the credit quality of the relevant entity or asset or obligation declines.
The return of the product may increase or decrease as a result of currency fluctuations
The Marketing Material gives general information about products only and that the client should refer to his Client Advisor as regards suitability of a specific product
Tax Treatment
UBS does not provide tax or legal advice. You must verify the above and all other information provided in this presentation or otherwise, with your external tax and legal advisors. Please read in conjunction with the risk information at the end of the presentation
Further Information
This product description is for information purposes only. The final terms and conditions will be finalized on the pricing date. For detailed information about the terms and conditions please consult the termsheet provided by the Issuer in English only.
This product is a bond or a note, which is a debt security under which the Issuer (also called the debtor or borrower) owes the holders (also called the lenders) a debt and, depending on the terms of the bond, is required to pay the holders interest (also called the coupon) and/or to repay the principal (or the amount borrowed) at a later date, termed the maturity.
Please note that the above is merely a generic description of the product and the individual products launched may come with variations to the basic structure. In addition, the individual client suitability has not been considered. Please contact your client advisor if your require further clarifications or tailored advice.
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