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Structured Finance



Credit Linked Notes

What is a credit-linked note? How does it work?

A credit-linked note (CLN) is a debt security whose interest payments and repayment are dependent on the financial solvency of the underlying obligor. If the underlying obligor does not experience a credit event (e.g. insolvency, default on payment or debt restructuring), the credit-linked noteholder receives attractive interest payments that are usually higher than comparable government or corporate bonds and the principal of the CLN is repaid at maturity. In the case of a credit event, the credit-linked note is repaid prematurely and instead of the nominal value of the principal, either either a bond issued by the underlying debtor is delivered or the current value of a reference bond is determined and paid out. The price of the reference bond will usually be quoted far below 100 percent due to the credit event. This renders tradability of the underlying liabilities difficult and weigh further on the price.

Current Offerings:

Investment Objectives / Strategies

COMING SOON!

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Equity Linked Notes

What is an equity linked note? How does it work?

An equity-linked note (ELN) is a debt security whose interest payments and repayment are dependent on the return of an equity asset. An ELN is typically principal protected. The final payment at maturity or coupon is determined by the appreciation of the underlying equity.

Current Offerings:

Investment Objectives / Strategies

COMING SOON!

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Other Financial Instruments

Other types of financial instruments include: fund-linked notes, index-linked notes, exchange traded product (ETP) linked notes, exchange traded fund (ETF) linked notes, and other similiar debt securities whose interest payments and repayment are dependent on the return of an index or basket of securities. 

Current Offerings:

Hammersmith Camden Financial €10,000,000,000 Medium Term Note Programme

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Investment Objectives / Strategies

Established for the purpose of issuing investment grade bonds, notes and other debt securities

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