Americas awards: securitisation

Author: | Published: 25 Mar 2010

WINNER: Royal Bank of Canada’s EquityCompass linked notes
The initial principal amount for the first issue in this programme was $13.5 million. However, further issuances under the same programme have raised more than $58 million.

The issue required the development of an entirely new product. The Direct Investment Notes are linked to the EquityCompass Equity Risk Management Strategy. This makes them an innovative product that provides for a return based on an asset management-type structure. The success of the programme has led to the underwriters using the same structure in a number of other products.

Royal Bank of Canada was represented by Morrison & Foerster.

ALSO NOMINATED:

AGF RMBS programme
In July last year, Credit Suisse bought loans with a value of $1.6 billion from American General Finance, a unit of American International Group, in a move that sparked interest back...