Cantor Fitzgerald announces $1 Billion YUPS offering on eBay Inc.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 -- Cantor Fitzgerald Cantor Fitzgerald L.P. is a global financial services firm specializing in bond trading, as well as investment banking, asset management, market data and brokerage services. & Co., a leading global financial services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. provider to the institutional equity and fixed-income markets, today announced that it intends to commence a public offering of up to $1 billion of Yield Underlying Participating Securities on eBay Inc. ("YUPS"). YUPS will be issued by the YUPS Trust for eBay Inc., a trust to be formed under a depositary DEPOSITARY, contracts. He with whom a deposit is confided or made. 2. It is, the essence of the contract of deposits that it should be gratuitous on the part 'of the depositary. 9 M. R. 470. trust agreement among Cantor Fitzgerald & Co., as sponsor, The Bank of New York The Bank of New York, abbrieviated to BNY, was a global financial services company that existed until its merger with the Mellon Financial Corporation on July 2, 2007.[1] The bank now continues under the new name of The Bank of New York Mellon Corporation. , as trustee, other depositors, if any, and the owners of the YUPS. YUPS are 40,000,000 Depositary Receipts that will represent an undivided beneficial ownership interest in (1) shares of eBay Inc. common stock (NasdaqGS: EBAY) initially representing approximately 70% of the assets of the trust, and (2) a series of U.S. Treasury U.S. Treasury Created in 1798, the United States Department of the Treasury is the government (Cabinet) department responsible for issuing all Treasury bonds, notes and bills. Some of the government branches operating under the U.S. Treasury umbrella include the IRS, U.S. Strips maturing quarterly during a three year-period corresponding with the term of the trust and initially representing approximately 30% of the assets of the trust. The trust will pay interest on the U.S. Treasury Strips as they mature. YUPS are separate from the underlying securities that they represent. YUPS are expected to be listed on the American Stock Exchange American Stock Exchange (AMEX) Stock exchange in the U.S. Originally known as “the Curb,” it began as an outdoor marketplace in New York City c. 1850. It moved indoors to its present location in the Wall Street area in 1921. under the symbol "EYP EYP European Youth Parliament EYP Electronic Yellow Pages EYP Encounters of Youth Promotion ." Cantor Fitzgerald & Co. is acting as sole manager in the offering. eBay Inc. is not participating and will not receive any proceeds from this offering. The trust is not a registered investment company under the Investment Company Act of 1940. A registration statement (including a prospectus) relating to relating to relate prep → concernant relating to relate prep → bezüglich +gen, mit Bezug auf +acc these securities has been filed with the Securities and Exchange Commission but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. This communication shall not constitute an offer to sell or the solicitation of an offer to buy the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. No offer to buy the securities can be accepted and no part of the purchase price can be received until the registration statement has become effective, and any such offer may be withdrawn or revoked, without obligation or commitment of any kind, at any time prior to notice of its acceptance given after the effective date. The prospectus for this offering may be obtained by contacting Andrew H. Pritchard at Cantor Fitzgerald & Co. by calling (203) 662-3610, by sending a fax to (203) 662-3644 or by e-mailing apritchard@cantor.com. About Cantor Fitzgerald Cantor Fitzgerald, & Co. is a leading financial services provider to the institutional equity and fixed income markets, with products and services including sales and trading, investment banking, asset management, market data, and market commentary. For nearly 60 years, Cantor Fitzgerald, a proven and resilient leader, has been committed to delivering a unique brand of trading and distribution services, product expertise, innovative technology and customer service to its clients around the world. |
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