Printer Friendly
The Free Library
14,558,366 articles and books
Member login
User name  
Password 
 
Join us Forgot password?

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:
  • Gary Peters (baseball player) (born 1937), an American Major League Baseball pitcher
  • Gary Peters (footballer) (born 1950), a former professional footballer and current manager
, senior vice president and division manager of LaSalle Bank's Broker-Dealer Services Division. "The new CDs join our S&P 500(R) linked CD(3) as an option for the more conservative investor to employ equity asset allocation Asset Allocation

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.
COPYRIGHT 1999 Business Wire
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1999, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

 Reader Opinion

Title:

Comment:



 

Article Details
Printer friendly Cite/link Email Feedback
Publication:Business Wire
Geographic Code:1USA
Date:Dec 27, 1999
Words:907
Previous Article:ADVISORY/Y2K Experts Available for the Transition to 2000.
Next Article:ADVISORY/New Experts Available Through ExpertSource.
Topics:



Related Articles
Testing the water before surfing. (tools for teaching children how to use the Internet for research)
Jackson National Extends Equity Indexing to CDs.(Brief Article)
Bank of America taps Jones Lang LaSalle, Trammel Crow.(consolidates domestic corporate real estate portfolio outsourcing)(Brief Article)
The sunny side of life: anemic interest rates and an uncertain stock market feed the growth of equity index annuities. (Life/Health: Annuities).
Bank's new product capitalizes on interest in China.(Up Front, East West Bank, depostit products)
Morgans Hotel venture closes $185m refinance.(FINANCE)
Pushy euros up hotel deal to $189m.
JLL: industry's transparency on the rise.(Commercial Sales & Leasing)
Jones Lang arranges $360m refi deal for Thor's hotel project.(FINANCE)

Terms of use | Copyright © 2009 Farlex, Inc. | Feedback | For webmasters | Submit articles