Lasalle Bank Introduces Two New Index Linked CDs.Business Editors BOCA RATON Boca Raton (bō`kə rətōn`), city (1990 pop. 61,492), Palm Beach co., SE Fla., on the Atlantic; inc. 1925. Boca Raton is a popular resort and retirement community that experienced significant industrial development in the 1970s and 80s. , Fla.--(BUSINESS WIRE)--Dec. 27, 1999 New Nikkei 225(sm)(1) and Nasdaq 100(R)(2) CDs are LaSalle's latest Market Index Linked CDs (MILCs) joining the bank's S&P 500(R) CD(3) LaSalle Bank's Broker-Dealer Services Division introduced the "Nikkei 225(sm)(1)" and the "Nasdaq 100(R)(2)" Market Index Linked CDs (MILCs) that offer the long-term growth potential of the two indexes with the security of a traditional Certificate of Deposit (CD). LaSalle's new Nikkei 225(sm) MILC MILC Milk Income Loss Contract MILC Metal-Induced Lateral Crystallization MILC Modified Intermediate Load Cycle (1) is a six-year, non-callable CD with 100 percent capital protection and 100 percent participation of the Nikkei 225(sm) Index at maturity (note that the Final Index value is the average of closing values at each of the last four quarters). The Nasdaq 100(R) MILC(2) is a six-year, callable CD callable CD A certificate of deposit that can be redeemed prior to the scheduled maturity. Many retail brokerage firms broker callable CDs issued by insured financial institutions. with 100 percent capital protection and 100 percent participation in the Nasdaq 100 Index Nasdaq 100 Index A market-capitalization-weighted index of the largest and most active nonfinancial domestic and international issues listed on the Nasdaq Stock Market. at maturity (note that the Final Index value is the average of closing values at each of the last four quarters). Both CDs are FDIC FDIC See: Federal Deposit Insurance Corporation FDIC See Federal Deposit Insurance Corporation (FDIC). insured, up to the maximum (currently $100,000) and within the limitations imposed by law. Each CD has a special "put" feature allowing the estate to redeem at par in the event an owner dies prior to maturity. Investors also have the option of quarterly redemption at bank provided prices after one year. Pricing information can be obtained on Bloomberg. "These new Market Index Linked CDs are consistent with our goal of bringing innovative and diverse products to the fixed-income market," said Gary Peters Gary Peters may refer to:
The process of dividing a portfolio among major asset categories such as bonds, stocks or cash. The purpose of asset allocation is to reduce risk by diversifying the portfolio. without risking the value of their investment." The new Nikkei 225(sm) MILC and Nasdaq 100(R) MILC become the second and third MILCs, respectively, that LaSalle now offers. In July, LaSalle introduced their callable Callable Applies mainly to convertible securities. Redeemable by the issuer before the scheduled maturity under specific conditions and at a stated price, which usually begins at a premium to par and declines annually. S&P 500(R) Linked CD that offered 100 percent participation in the S&P 500(R) after five years. LaSalle Bank Broker-Dealer Services Division is a leading educator and distributor of taxable fixed-income products and services to the broker-dealer community. LaSalle offers a complete fixed-income marketing program featuring videos, cassettes, brochures, computer presentations and additional marketing support designed to help traders and sales representatives market fixed-income securities Fixed-income securities Investments that have specific interest rates, such as bonds. . LaSalle Bank N.A. is one of the Midwest's largest commercial banks and Chicago's second largest bank with assets of nearly $30 billion. Together with its affiliate LaSalle Bank FSB (FrontSide Bus) See system bus. FSB - front side bus , they have 120 locations and 675 ATMs. LaSalle is a subsidiary of Netherlands-based ABN AMRO Bank N.V., the world's sixth(4) largest bank with total assets of $480 billion and more than 3,500 locations in 76 countries and territories. To date, LaSalle has sold over $12 billion worth of callable CD's to over 600 broker-dealers across the country and continues to be the leading distributor of the product for banks nationwide. In North America, ABN AMRO has $162 billion in assets and more than 18,000 employees. Headquartered in Chicago, ABN AMRO has banking offices in 15 cities in the U.S., Canada and Mexico. Major North American North American named after North America. North American blastomycosis see North American blastomycosis. North American cattle tick see boophilusannulatus. affiliates include ABN AMRO Incorporated, a full-service investment banking, advisory and brokerage firm; ABN AMRO Asset Management (USA) Inc.; as well as Chicago's LaSalle Bank N.A., LaSalle Bank FSB, Standard Federal Bank in Michigan and EAB EAB Emerald Ash Borer (insect) EAB Environmental Appeals Board (EPA) EAB Educational Activities Board (IEEE) EAB Environmental Advisory Board EAB Egyptian American Bank in 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 .
1 -- "Nikkei", the "Nikkei Stock Average", the "Nikkei Average" and
the "Nikkei 225" are trademarks and have been licensed for use by
ABN AMRO North America, Inc. and its affiliates (including the
Bank). The Nikkei 225 Index is the exclusive property of Nihon
Keizai Shimbun, Inc. (the "Licensor"). All rights, including
copyrights and rights to use the "Nikkei", the "Nikkei Stock
Average", the "Nikkei Average" and the Nikkei 225" designation
are reserved by the Licensor. The Licensor reserves the right to
cease the compilation of the Index and to change its composition
and contents. This product is not sponsored, endorsed, sold or
promoted by the Licensor. The Lincensor makes no representation,
or warranty, express or implied, to the owners of this security
or to members of the public regarding the advisability of
investing in securities generally or in this issue particularly.
2 -- "Standard & Poor's(R)", "S&P(R)", "S&P 500(R)", "Standard &
Poor's 500" and "500" are trademarks of The McGraw-Hill
Companies, Inc. and have been licensed for use by ABN AMRO North
America Inc. and its affiliates (including the Bank). The CDs are
not sponsored, endorsed, sold or promoted by Standard & Poor's
and Standard & Poor's makes no representation regarding the
advisability of investing in the CDs.
3 -- The Nasdaq 100 (R), Nasdaq 100 Index (R), and Nasdaq (R) are
trade or service marks of the Nasdaq Stock Market, Inc. (which
with its affiliates are the "Nasdaq Corporations") and are
licensed for use by the Bank. The MILCs have not been passed on
by the Nasdaq Corporations as to their legality or suitability.
The MILCs are not issued, endorsed, sold, or promoted by the
Nasdaq Corporations. THE NASDAQ CORPORATIONS MAKE NO WARRANTIES
AND BEAR NO LIABILITY WITH RESPECT TO THE MILCs.
4 -- According to assets as reported in The Banker July 1999
EDITOR'S NOTE: In the text of the release, numbers in parentheses See parenthesis. parentheses - See left parenthesis, right parenthesis. should be superscripted and correspond to the footnotes at the end. |
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