CDS IndexCo and Dow Jones Indexes Announce Coupon Values for the Dow Jones CDX Investment Grade, High Volatility and Emerging Markets Indexes.NEW YORK New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of -- CDS IndexCo LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control and Dow Jones Dow Jones the best known of several U.S. indexes of movements in price on Wall Street. [Am. Hist.: Payton, 202] See : Finance Indexes, publishers of the Dow Jones CDX CDX Companion Dog Excellent (AKC Obedience Title) CDX Cyber-Defense Exercise CDX Central Data Exchange CDX Community Development Exchange (UK community development organization) CDX Commercial Data Exchange family of credit derivative Credit Derivative Privately held negotiable bilateral contracts that allow users to manage their exposure to credit risk. Credit derivatives are financial assets like forward contracts, swaps, and options for which the price is driven by the credit risk of economic agents (private indexes, today announced the coupon values for the following indexes: Dow Jones CDX North America North America, third largest continent (1990 est. pop. 365,000,000), c.9,400,000 sq mi (24,346,000 sq km), the northern of the two continents of the Western Hemisphere. Investment Grade Index (DJ CDX.NA.IG); Dow Jones CDX North America Investment Grade High Volatility Index (DJ CDX.NA.IG.HVOL); Dow Jones CDX Emerging Market Index (DJ CDX.EM); and the Dow Jones CDX Emerging Market Diversified Index (DJ CDX.EM Diversified). These indexes are set to roll on March 20, 2006. The coupon determination process was conducted by Markit, the index administrator, with input from the member banks of the CDS IndexCo consortium and approved by Dow Jones Indexes. The member banks that are part of the CDS IndexCo consortium include: ABN AMRO ABN AMRO Algemene Bank Nederland-Amsterdam Roterdam Bank (Dutch bank) , Bank of America
Bank of America (NYSE: BAC TYO: 8648 ) is the largest commercial bank in the United States in terms of deposits, and the largest company of its kind in the world. , Barclays Capital Barclays Capital is the investment banking division of Barclays plc. It is a primary dealer in U.S. Treasury securities and various European Government bonds. Barclays Capital is led by CEO Robert (Bob) Diamond, an American who had been vice-chairman of Credit Suisse First , Bear Stearns The Bear Stearns Companies, Inc. (NYSE: BSC) is the parent company of Bear, Stearns & Co. Inc., one of the largest global investment banks and securities trading and brokerage firms in the world. , BNP Paribas, Citigroup, Credit Suisse, Deutsche Bank, Goldman Sachs, HSBC HSBC Hongkong and Shanghai Banking Corporation HSBC Humane Society of Broward County (Florida) HSBC Humane Society of Bay County (Bay County, Michigan) , JPMorgan, Lehman Brothers, Merrill Lynch, Morgan Stanley, UBS UBS Union Bank of Switzerland UBS United Bible Societies UBS United Blood Services UBS United Buying Service UBS Used Bookstore UBS University Business Services UBS Universal Building Society (UK) UBS Ulaanbaatar Broadcasting System , and Wachovia. COUPON DETERMINATIONS The following tables outline the coupon values for the DJ CDX.NA.IG Index Series 7 and DJ CDX.NA.IG.HVOL Index Series 7.(1) YEAR IG - Main IG - HVOL ---------------------------------------------------------------------- 1-YEAR 10 20 ---------------------------------------------------------------------- 2-YEAR 15 30 ---------------------------------------------------------------------- 3-YEAR 25 50 ---------------------------------------------------------------------- 5-YEAR 40 75 ---------------------------------------------------------------------- 7-YEAR 50 95 ---------------------------------------------------------------------- 10-YEAR 65 110 ---------------------------------------------------------------------- SECTOR 5-YEAR 10-YEAR ---------------------------------------------------------------------- Consumer 50 70 ---------------------------------------------------------------------- Energy 30 55 ---------------------------------------------------------------------- Financial 25 40 ---------------------------------------------------------------------- Industrial 40 70 ---------------------------------------------------------------------- TMT 50 80 ---------------------------------------------------------------------- The following table outlines the coupon values for the DJ CDX.EM Index Series 6 and the DJ CDX.EM Diversified Index Series 4.(2)
INDEX 5-YEAR 10-YEAR
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DJ CDX EM
Series 6 140 200
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INDEX 3-YEAR 5-YEAR 7-YEAR 10-YEAR
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DJ CDX EM
Diversified Series 4 55 95 120 135
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The indexes are scheduled to roll every six months in order to rebalance the portfolio as necessary. Please see the "Credit Derivative Indexes" link at www.djindexes.com to view the underlying constituents of each index. Daily prices and spreads, constituent information, and documentation are also posted under "CDX Home" on www.markit.com.
Journalists may e-mail questions regarding this press release to
PR-Indexes@dowjones.com or contact the Dow Jones Indexes/STOXX press
office:
New York: +1-212-597-5720
Frankfurt: + 49-69-97142815
For more information about any of the Dow Jones CDX family of indices,
please contact Teresa Chick at Markit on +44 (0)20 7260 2094 or one of
the participating dealers listed below:
ABN AMRO Patrick Phalon, Corporate Communications,
(212) 409-6473
Bank of
America Louise Hennessy, GCIB Communications, (212) 847-5403
Barclays
Capital Kristin Friel, Corporate Communications, (212) 412-7521
Bear Stearns Renu Aldrich, Associate Director, (212) 272-2097
BNP Paribas Edwina Frawley, (212) 841-3719
Citigroup Danielle Romero-Apsilos, Corporate and Investment
Banking Group Communications, (212) 816-2264
Credit Suisse Pen Pendleton, Corporate Communications, (212) 325-2590
Deutsche Bank Michele Allison, Press Office, (212) 250-4864
Goldman Sachs Michael Duvally, VP, Media Relations, (212) 902-2605
HSBC Juanita Guiterrez, Media Relations, (212) 525-6282
JPMorgan Brooke Harlow, Corporate Communications, (212) 270-7381
Lehman
Brothers Kerrie Cohen, Corporate Communications, (212) 526-4092
Merrill Lynch Kristin Celauro, Media Relations, (212) 449-2004
Morgan
Stanley Mark Lake, Media Relations, (212) 761-0814
UBS Kris Kagel, UBS Corporate Communications,
(212) 713-8703
Wachovia Elise Wilkinson, VP, Media Relations, (704) 374-6512
Note to Editors: About CDS IndexCo CDS IndexCo is a consortium of 16 investment banks which are licensed to be market makers in the Dow Jones CDX indexes Dow Jones CDX Indexes A series of indices that track North American and emerging market credit derivative indexes. The purpose of the combined indexes is to track the performance of the various segments of credit derivatives so that the overall return can be benchmarked against . The market makers include: ABN AMRO, Bank of America, Barclays Capital, Bear Stearns, BNP Paribas, Citigroup, Credit Suisse, Deutsche Bank, Goldman Sachs, HSBC, JPMorgan, Lehman Brothers, Merrill Lynch, Morgan Stanley, UBS, and Wachovia. About Dow Jones Indexes Dow Jones Indexes is part of Dow Jones & Company, which publishes the world's most vital business and financial news and information. Dow Jones Indexes is a premier global provider of investable indexes, including the Dow Jones Averages Dow Jones Averages A trademark used for three indexes of the relative price of selected industrial, transportation, and utility stocks based on a formula developed and periodically revised by Dow Jones & Company, Inc. and the Dow Jones Global, Regional, Country, and Sector Titans Indexes, and is co-owner of the Pan-European Dow Jones STOXX Indexes. Together with Wilshire Associates, Dow Jones Indexes markets and licenses the Dow Jones Wilshire index family, which includes the Dow Jones Wilshire 5000 and its size, style, and sector indexes. Dow Jones Indexes also offers a number of specialty indexes, including hedge fund hedge fund, in finance, a highly speculative, largely unregulated investment device. Originating in the 1950s, the funds "hedge" by offsetting "short" positions (borrowing a security and then selling it at a higher price before repaying the lender) against "long" , commodity, and credit derivative indexes. In addition to Dow Jones Indexes, Dow Jones & Company (NYSE NYSE See: New York Stock Exchange :DJ; dowjones.com) publishes The Wall Street Journal and its international and online editions, Barron's and the Far Eastern Economic Review, Dow Jones Newswires Dow Jones Newswires is the real-time financial news organization owned by Dow Jones. Founded in 1882, its primary competitors are Bloomberg L.P. and Reuters. The company reports more than 420,000 subscribers -- including brokers, traders, analysts and fund managers -- as of July , MarketWatch, and the Ottaway group of community newspapers. Dow Jones is co-owner with Reuters Group of Factiva and with Hearst of SmartMoney. Dow Jones also provides news content to CNBC CNBC Center for the Neural Basis of Cognition (artificial intelligence) CNBC Consumer News and Business Channel CNBC Congress of National Black Churches, Inc. and radio stations in the U.S. About Markit Group Markit Group Limited is the leading provider of independent pricing, reference data, portfolio valuations, and OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). derivatives trade processing to the global financial and commodities markets. The company receives daily data contributions from over 65 dealing firms, and its services are used by over 450 institutions to enhance trading operations, reduce risk, and manage compliance. Markit's position in the derivatives markets has been acknowledged by the industry with awards from Credit for Best Operational Support Services support services Psychology Non-health care-related ancillary services–eg, transportation, financial aid, support groups, homemaker services, respite services, and other services Provider 2006; Inside Market Data for Reference Data Provider of the Year 2006, and Company to Watch 2006; Risk Magazine for Trading Initiative of the Year 2006 (Credit Event Fixings); Structured Finance International's Editor's Award for Advancing Structured Finance 2006; International Securitisation Report's Editor's Award for Innovation 2005; International Financing Review's Innovation of the Year 2005 (Credit Event Fixings); Financial News' Best Derivatives Data Provider 2005; and Institutional Investor's Operations Management Award for Vendor of the Year 2005. For additional information please visit www.markit.com (1) All coupon values measured in basis points. (2) All coupon values measured in basis points. |
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