Analysis of structured products issuance for 13 months through June 2010

Columns are amount in billions of dollars, count of deals, percentage of total in dollars.

Issuer

	6/2009	7/2009	8/2009	9/2009	10/2009	11/2009	12/2009	1/2010	2/2010	3/2010	4/2010	5/2010	6/2010
AB Svensk ExportKredit	0.066	0.051	0.091	0.047	0.082	0.104	0.128	0.256	0.125	0.092	0.141	0.119	0.067
ABN Amro Bank NV	0.008	0.016	0.013	0.019	0.016	0.013	0.015	0.011	0.002	0	0	0	0
BNP Paribas	0	0	0	0	0	0.010	0	0	0	0	0	0	0
Bank of America Corp.	0.356	0.363	0.529	0.769	0.584	0.417	0.387	0.783	0.660	0.679	0.597	0.718	0.597
Bank of Montreal	0	0	0	0	0	0	0	0	0	0	0.050	0	0
Barclays Bank plc	1.129	1.271	0.966	0.766	0.632	2.591	0.459	3.302	0.665	5.253	1.067	0.389	0.271
Citigroup Funding Inc.	0.138	0.140	0.149	0.117	0.123	0.150	0.116	0.179	0.071	0.181	0.107	0.112	0.088
Commonwealth Bank of Australia	0	0	0	0	0	0	0	0	0	0.060	0	0	0
Credit Suisse, Nassau Branch	0.269	0.174	0.198	0.097	0.056	0.037	0.119	0.144	0.052	0.160	0.446	0.135	0.065
Deutsche Bank AG	0.122	0.570	0.150	0.050	0.089	0.093	0.044	0.132	0.227	0.195	0.100	0.287	0.073
Eksportfinans ASA	0.098	0.052	0.089	0.258	0.205	0.119	0.072	0.228	0.202	0.091	0.337	0.074	0.049
Fannie Mae	0.025	0	0	0	0	0	0	0	0	0	0	0	0
Federal Home Loan Banks	0.195	0.122	0.124	0.110	0.160	0.070	0.176	0.075	0.095	0.148	0.065	0.040	0
Freddie Mac	0.025	0	0	0	0	0.025	0	0.050	0	0	0	0	0
Goldman Sachs Group, Inc.	0.143	0.141	0.059	0.141	0.309	0.640	0.134	0.203	0.219	0.310	0.398	0.240	0.275
HSBC Bank USA, NA	0.031	0.033	0.012	0.052	0.011	0	0.031	0	0.021	0.020	0	0	0
HSBC USA Inc.	0.136	0.230	0.203	0.169	0.137	0.106	0.060	0.197	0.190	0.110	0.163	0.267	0.032
Inter-American Development Bank	0	0	0	0.025	0	0	0	0	0	0	0	0	0
International Bank for Reconstruction and Development	0	0.035	0	0	0	0	0	0	0	0	0	0	0
JPMorgan Chase & Co.	0.148	0.196	0.190	0.256	0.073	0.124	0.260	0.219	0.363	0.270	0.476	0.479	0.153
JPMorgan Chase Bank, NA	0	0	0	0	0	0	0	0	0.022	0	0	0.019	0
KfW	0	0	0	0	0	0.010	0.008	0	0	0	0	0	0
Morgan Stanley	0.243	0.157	0.305	0.188	0.363	0.128	0.249	0.224	0.624	0.659	0.473	0.364	0.266
Royal Bank of Canada	0.125	0.061	0.073	0.112	0.093	0.114	0.093	0.068	0.139	0.165	0.176	0.086	0.135
Royal Bank of Scotland NV	0	0	0	0	0	0	0	0	0.007	0.016	0.016	0.013	0.011
Safety First Trust Series (Citigroup Funding Inc.)	0.006	0	0	0	0	0	0	0	0	0	0	0	0
SunTrust Bank	0.005	0	0	0	0	0.003	0	0	0	0	0	0	0
UBS AG	0.091	0.062	0.063	0.071	0.225	0.048	0.100	0.204	0.080	0.206	0.116	0.195	0.217
Wells Fargo	0.033	0.020	0.030	0.017	0.031	0.006	0	0.019	0	0.018	0.011	0	0.022
Wells Fargo Bank, NA	0	0.120	0.100	0.009	0.093	0.028	0.022	0.031	0	0	0	0	0
Total	3.392	3.814	3.347	3.273	3.282	4.836	2.474	6.325	3.763	8.632	4.738	3.538	2.320
	Q3/2009	Count	Q4/2009	Count	Q1/2010	Count	Q2/2010	Count	YTD	Count	Total	Count	YTD Share
AB Svensk ExportKredit	0.190	44	0.315	58	0.473	50	0.326	37	0.800	87	1.371	194	2.73%
ABN Amro Bank NV	0.048	95	0.044	95	0.012	29	0	0	0.012	29	0.111	245	0.04%
BNP Paribas	0	0	0.010	1	0	0	0	0	0	0	0.010	1	0.00%
Bank of America Corp.	1.661	43	1.388	43	2.122	64	1.913	76	4.034	140	7.439	240	13.76%
Bank of Montreal	0	0	0	0	0	0	0.050	2	0.050	2	0.050	2	0.17%
Barclays Bank plc	3.003	295	3.682	455	9.221	762	1.726	593	10.947	1355	18.761	2192	37.34%
Citigroup Funding Inc.	0.405	22	0.389	33	0.431	40	0.308	43	0.739	83	1.670	147	2.52%
Commonwealth Bank of Australia	0	0	0	0	0.060	1	0	0	0.060	1	0.060	1	0.20%
Credit Suisse, Nassau Branch	0.470	63	0.212	61	0.355	69	0.647	78	1.002	147	1.952	299	3.42%
Deutsche Bank AG	0.770	46	0.227	43	0.554	57	0.460	64	1.014	121	2.133	228	3.46%
Eksportfinans ASA	0.400	46	0.396	48	0.522	46	0.460	25	0.982	71	1.876	189	3.35%
Fannie Mae	0	0	0	0	0	0	0	0	0	0	0.025	1	0.00%
Federal Home Loan Banks	0.357	17	0.406	22	0.318	22	0.105	8	0.423	30	1.381	82	1.44%
Freddie Mac	0	0	0.025	1	0.050	2	0	0	0.050	2	0.100	4	0.17%
Goldman Sachs Group, Inc.	0.341	50	1.083	47	0.732	45	0.913	82	1.645	127	3.212	241	5.61%
HSBC Bank USA, NA	0.097	4	0.043	2	0.041	2	0	0	0.041	2	0.212	9	0.14%
HSBC USA Inc.	0.603	54	0.302	66	0.496	86	0.462	78	0.958	164	1.999	296	3.27%
Inter-American Development Bank	0.025	1	0	0	0	0	0	0	0	0	0.025	1	0.00%
International Bank for Reconstruction and Development	0.035	1	0	0	0	0	0	0	0	0	0.035	1	0.00%
JPMorgan Chase & Co.	0.641	111	0.457	110	0.852	146	1.108	212	1.960	358	3.207	614	6.69%
JPMorgan Chase Bank, NA	0	0	0	0	0.022	1	0.019	1	0.041	2	0.041	2	0.14%
KfW	0	0	0.018	2	0	0	0	0	0	0	0.018	2	0.00%
Morgan Stanley	0.649	59	0.740	64	1.507	86	1.103	73	2.610	159	4.242	300	8.90%
Royal Bank of Canada	0.246	226	0.300	191	0.371	216	0.397	259	0.768	475	1.439	955	2.62%
Royal Bank of Scotland NV	0	0	0	0	0.023	63	0.040	93	0.062	156	0.062	156	0.21%
Safety First Trust Series 2009-3 for Citigroup Funding Inc.	0	0	0	0	0	0	0	0	0	0	0.006	1	0.00%
SunTrust Bank	0	0	0.003	1	0	0	0	0	0	0	0.008	2	0.00%
UBS AG	0.195	50	0.373	59	0.490	50	0.527	50	1.017	100	1.676	224	3.47%
Wells Fargo	0.067	12	0.037	4	0.037	6	0.034	7	0.071	13	0.207	32	0.24%
Wells Fargo Bank, NA	0.229	3	0.144	5	0.031	2	0	0	0.031	2	0.405	10	0.11%
Total	10.433	1242	10.591	1411	18.721	1845	10.596	1781	29.317	3626	53.733	6671	100.00%
Proceeds
	6/2009	7/2009	8/2009	9/2009	10/2009	11/2009	12/2009	1/2010	2/2010	3/2010	4/2010	5/2010	6/2010
Less than $1 million	0.035	0.036	0.046	0.045	0.053	0.040	0.053	0.044	0.048	0.067	0.084	0.071	0.097
$1-1.99 million	0.066	0.065	0.073	0.087	0.083	0.121	0.119	0.134	0.171	0.194	0.239	0.171	0.087
$2-2.99 million	0.071	0.060	0.085	0.089	0.133	0.150	0.142	0.369	0.300	0.225	0.121	0.122	0.072
$3-4.99 million	0.198	0.179	0.275	0.243	0.294	0.287	0.159	0.158	0.201	0.222	0.179	0.202	0.141
$5-9.99 million	0.423	0.446	0.420	0.447	0.393	0.345	0.253	0.371	0.360	0.375	0.378	0.413	0.411
$10-14.99 million	0.401	0.352	0.308	0.207	0.324	0.307	0.496	0.170	0.544	0.420	0.388	0.408	0.323
$15-$49.99 million	1.321	0.746	0.965	1.123	1.250	0.768	0.909	1.600	1.309	1.357	1.292	1.422	0.664
$50 million and higher	0.876	1.929	1.175	1.032	0.753	2.818	0.343	3.479	0.830	5.772	2.057	0.729	0.525
Total	3.392	3.814	3.347	3.273	3.282	4.836	2.474	6.325	3.763	8.632	4.738	3.538	2.320
	Q3/2009	Count	Q4/2009	Count	Q1/2010	Count	Q2/2010	Count	YTD	Count	Total	Count	YTD Share
Less than $1 million	0.127	357	0.146	369	0.159	394	0.252	635	0.411	1029	0.720	1856	1.40%
$1-1.99 million	0.224	175	0.322	265	0.499	420	0.497	427	0.996	847	1.608	1336	3.40%
$2-2.99 million	0.235	100	0.425	194	0.894	410	0.314	136	1.208	546	1.938	870	4.12%
$3-4.99 million	0.698	189	0.739	204	0.581	150	0.522	141	1.104	291	2.739	739	3.77%
$5-9.99 million	1.312	207	0.991	143	1.106	163	1.202	174	2.308	337	5.034	752	7.87%
$10-14.99 million	0.866	73	1.127	99	1.135	101	1.120	99	2.255	200	4.650	408	7.69%
$15-$49.99 million	2.834	112	2.926	110	4.265	164	3.378	136	7.643	300	14.725	573	26.07%
$50 million and higher	4.136	29	3.914	27	10.081	43	3.311	33	13.393	76	22.319	137	45.68%
Total	10.433	1242	10.591	1411	18.721	1845	10.596	1781	29.317	3626	53.733	6671	100.00%
Type
	6/2009	7/2009	8/2009	9/2009	10/2009	11/2009	12/2009	1/2010	2/2010	3/2010	4/2010	5/2010	6/2010
Basket of stocks	0.039	0.045	0.016	0.051	0.026	0.011	0.042	0.032	0.028	0.100	0.018	0.004	0.001
Commodities	0.555	0.294	0.604	0.268	0.493	0.397	0.298	0.720	0.190	0.493	0.514	0.607	0.352
ETF	0.151	0.260	0.155	0.120	0.146	0.159	0.127	0.267	0.148	0.089	0.136	0.211	0.139
Equity index	0.863	0.787	1.241	1.403	1.198	2.309	0.798	1.342	1.308	1.308	1.811	1.269	0.873
Foreign exchange	0.259	0.669	0.188	0.354	0.181	0.083	0.100	0.261	0.231	0.242	0.136	0.191	0.094
Fund	0.005	0.001	0.001	0.001	0	0	0.001	0	0	0	0	0	0
Interest rate	0.486	0.366	0.449	0.231	0.416	0.216	0.389	0.323	0.367	0.451	0.427	0.297	0.142
Multiple/Other	0.635	1.089	0.031	0.079	0.092	1.070	0.105	2.558	0.310	4.943	0.811	0.270	0.113
Single stock	0.399	0.303	0.663	0.766	0.729	0.591	0.614	0.822	1.181	1.006	0.885	0.689	0.606
Total	3.392	3.814	3.347	3.273	3.282	4.836	2.474	6.325	3.763	8.632	4.738	3.538	2.320
	Q3/2009	Count	Q4/2009	Count	Q1/2010	Count	Q2/2010	Count	YTD	Count	Total	Count	YTD Share
Basket of stocks	0.111	11	0.079	9	0.160	18	0.023	6	0.183	24	0.413	47	0.62%
Commodities	1.166	125	1.188	128	1.403	122	1.472	114	2.875	236	5.784	519	9.81%
ETF	0.535	86	0.432	89	0.504	124	0.486	135	0.989	259	2.108	461	3.37%
Equity index	3.431	266	4.305	283	3.958	298	3.954	349	7.912	647	16.510	1278	26.99%
Foreign exchange	1.211	55	0.364	53	0.735	63	0.421	50	1.155	113	2.989	242	3.94%
Fund	0.002	3	0.001	2	0	0	0	1	0	1	0.009	9	0.00%
Interest rate	1.046	69	1.021	81	1.141	96	0.866	105	2.007	201	4.560	387	6.85%
Multiple/Other	1.199	24	1.266	37	7.811	79	1.194	88	9.005	167	12.105	241	30.72%
Single stock	1.732	603	1.933	729	3.009	1045	2.181	933	5.190	1978	9.254	3487	17.70%
Total	10.433	1242	10.591	1411	18.721	1845	10.596	1781	29.317	3626	53.733	6671	100.00%
Structure
	6/2009	7/2009	8/2009	9/2009	10/2009	11/2009	12/2009	1/2010	2/2010	3/2010	4/2010	5/2010	6/2010
	0	0	0	0	0	0	0	0	0	0	0	0	0.008
callable reverse convertible	0.003	0	0.004	0	0	0.008	0.006	0.006	0.011	0.007	0.001	0.012	0.008
convertible/linked	0.370	0.016	0.740	0.156	0.169	0.981	0.201	0.198	0.374	0.203	0.198	0.162	0.112
downside protection	0.138	0.123	0.092	0.102	0.129	0.150	0.107	0.134	0.084	0.159	0.166	0.120	0.119
increasing calls	0.081	0.112	0.130	0.109	0.070	0.293	0.109	0.216	0.066	0.094	0.086	0.158	0.234
leveraged return	0.321	0.253	0.230	0.236	0.353	0.275	0.277	0.945	0.430	0.640	0.530	0.488	0.230
leveraged return, downside protection	0.090	0.028	0.029	0.020	0.038	0.011	0.016	0.009	0.003	0.046	0.018	0.008	0.044
leveraged return, partial downside protection	0.673	0.922	0.433	0.548	0.528	0.344	0.473	0.659	0.428	0.512	0.407	0.660	0.577
other/NA	0.945	1.808	0.897	1.215	1.056	2.074	0.466	3.301	1.306	6.036	2.562	1.193	0.547
range	0.418	0.199	0.252	0.191	0.350	0.120	0.237	0.184	0.215	0.164	0.106	0.142	0.018
reverse convertible	0	0	0	0	0	0	0.020	0	0.025	0	0	0	0
steepener	0.013	0.029	0.055	0.069	0.016	0.014	0.006	0.001	0.011	0.010	0.014	0.026	0.019
trigger reverse convertible	0.341	0.322	0.484	0.628	0.571	0.567	0.557	0.672	0.810	0.761	0.649	0.568	0.404
Total	3.392	3.814	3.347	3.273	3.282	4.836	2.474	6.325	3.763	8.632	4.738	3.538	2.320
	Q3/2009	Count	Q4/2009	Count	Q1/2010	Count	Q2/2010	Count	YTD	Count	Total	Count	YTD Share
	0	0	0	0	0	0	0.008	1	0.008	1	0.008	1	0.03%
callable reverse convertible	0.004	3	0.014	7	0.024	13	0.021	11	0.045	24	0.065	35	0.15%
convertible/linked	0.912	49	1.351	62	0.774	56	0.472	35	1.247	91	3.880	209	4.25%
downside protection	0.317	21	0.386	29	0.377	32	0.406	43	0.782	75	1.623	132	2.67%
increasing calls	0.351	18	0.472	14	0.376	32	0.478	47	0.855	79	1.759	117	2.92%
leveraged return	0.720	73	0.905	108	2.015	160	1.248	133	3.264	293	5.209	507	11.13%
leveraged return, downside protection	0.077	18	0.064	13	0.058	10	0.070	20	0.128	30	0.359	74	0.44%
leveraged return, partial downside protection	1.903	183	1.345	193	1.599	194	1.645	220	3.244	414	7.165	855	11.07%
other/NA	3.920	207	3.596	193	10.643	258	4.301	332	14.945	590	23.405	1040	50.98%
range	0.643	36	0.707	45	0.564	45	0.266	18	0.830	63	2.598	173	2.83%
reverse convertible	0	0	0.020	1	0.025	1	0	0	0.025	1	0.045	2	0.09%
steepener	0.152	23	0.036	10	0.022	9	0.059	19	0.081	28	0.282	64	0.28%
trigger reverse convertible	1.434	611	1.695	736	2.243	1035	1.621	902	3.864	1937	7.335	3462	13.18%
Total	10.433	1242	10.591	1411	18.721	1845	10.596	1781	29.317	3626	53.733	6671	100.00%
Tenor
	6/2009	7/2009	8/2009	9/2009	10/2009	11/2009	12/2009	1/2010	2/2010	3/2010	4/2010	5/2010	6/2010
Less than 1 year	0.363	0.444	0.473	0.702	0.601	1.210	0.490	0.822	0.687	0.624	0.610	0.540	0.353
1	0.444	0.351	0.448	0.584	0.680	0.524	0.496	1.095	0.919	1.090	1.495	1.055	0.803
1.25	0.104	0.112	0.175	0.271	0.199	0.145	0.071	0.410	0.263	0.599	0.352	0.237	0.059
1.5	0.219	0.154	0.235	0.216	0.150	0.089	0.114	0.178	0.568	0.137	0.318	0.498	0.206
1.75	0.001	0.005	0	0	0.004	0.011	0	0	0	0.001	0.005	0.005	0.014
2	0.388	0.906	0.489	0.787	0.589	0.365	0.405	0.488	0.275	0.369	0.305	0.331	0.228
2.25 to 4.75 years	0.331	0.280	0.143	0.159	0.134	0.142	0.157	0.124	0.147	0.155	0.134	0.165	0.184
5	0.197	0.115	0.067	0.065	0.160	1.034	0.090	0.118	0.082	0.203	0.183	0.101	0.204
5.25 to 9.75	0.068	0.046	0.044	0.080	0.096	0.044	0.088	1.630	0.093	2.583	0.547	0.079	0.057
10	0.566	1.120	0.158	0.043	0.122	1.002	0.057	1.003	0.149	2.115	0.220	0.155	0.107
10.25 to 14.75	0.011	0.009	0.075	0.027	0.065	0.048	0.040	0.053	0.015	0.019	0.022	0.018	0.020
15	0.287	0.202	0.241	0.175	0.262	0.172	0.287	0.233	0.178	0.258	0.188	0.165	0.046
Longer than 15	0.358	0.019	0.691	0.164	0.121	0.038	0.164	0.153	0.225	0.191	0.260	0.160	0.040
NA	0.054	0.050	0.110	0	0.100	0.011	0.016	0.017	0.163	0.288	0.100	0.029	0
Total	3.392	3.814	3.347	3.273	3.282	4.836	2.474	6.325	3.763	8.632	4.738	3.538	2.320
	Q3/2009	Count	Q4/2009	Count	Q1/2010	Count	Q2/2010	Count	YTD	Count	Total	Count	YTD Share
Less than 1 year	1.619	555	2.301	603	2.133	765	1.503	768	3.636	1533	7.919	2844	12.40%
1	1.383	175	1.700	283	3.104	481	3.353	391	6.457	872	9.984	1401	22.02%
1.25	0.557	38	0.415	40	1.272	58	0.648	48	1.920	106	2.996	195	6.55%
1.5	0.604	85	0.353	83	0.883	124	1.021	149	1.904	273	3.080	464	6.49%
1.75	0.005	2	0.015	4	0.001	1	0.023	7	0.024	8	0.045	15	0.08%
2	2.182	151	1.359	136	1.133	121	0.865	103	1.997	224	5.927	551	6.81%
2.25 to 4.75 years	0.582	79	0.433	70	0.426	73	0.484	95	0.909	168	2.255	346	3.10%
5	0.247	33	1.283	42	0.403	39	0.489	60	0.891	99	2.619	196	3.04%
5.25 to 9.75	0.170	11	0.228	24	4.307	37	0.682	36	4.989	73	5.455	113	17.02%
10	1.321	8	1.181	12	3.268	26	0.483	41	3.751	67	6.818	93	12.79%
10.25 to 14.75	0.110	38	0.153	47	0.088	33	0.059	18	0.147	51	0.422	138	0.50%
15	0.618	45	0.721	52	0.669	54	0.398	38	1.068	92	2.694	211	3.64%
Longer than 15	0.874	17	0.323	11	0.568	21	0.459	23	1.027	44	2.582	77	3.50%
NA	0.160	5	0.127	4	0.467	12	0.129	4	0.596	16	0.937	27	2.03%
Total	10.433	1242	10.591	1411	18.721	1845	10.596	1781	29.317	3626	53.733	6671	100.00%

Criteria

• The tables include all dollar-denominated offerings sold in the U.S. as public or Rule 144A deals reported to Prospect News.

• Offerings are included in the time period in which they price.

• Amounts are based on the total sales price (face amount multiplied by the offering price).

• Each tranche is counted as a separate deal.

• Notes are included that convert into or are linked to one more stocks, indexes, commodities, currencies, interest rates or other assets. For interest rate deals, callables with no further structure are excluded.

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