
News
PINs protection weakened
Thursday 13th of August 2009
The notes, which offered high coupon payment and principle protection, first ran into trouble when the credit crisis hit. Essentially the underlying assets were destroyed and the income disappeared.
Investors, who put $75 million into the notes, took some comfort because the the principal was protected by ABN Amro Bank. Dutch-based ABN Amro was invoved as it had a stake in Sydney-...
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