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Structured products volume slips 52.6% week-over-week; JPMorgan is top agent for week
By Sheri Kasprzak
New York, June 15 – New issue volume slipped by 52.6% for the week of June 5, according to data compiled by Prospect News.
During the week of June 5, there were 65 deals totaling $201 million, down 52.65% from the 92 deals totaling $424 million the week before.
There were just three deals larger than $10 million, down from eight the week before. Only one offering was larger than $20 million and no deals were bigger than $50 million.
Fifty-six of the week’s deals were linked to equities, down 47.48% from the week before. Twenty-nine deals were synthetic-linked and 26 were linked to synthetic indexes.
JPMorgan top bookrunner
JPMorgan Chase & Co. was the number-one agent during the week with 26 deals totaling $65 million, making up 32.3% of the week’s total. This is 76.3% up from the bank’s performance the week before, when it offered 11 deals totaling $37 million.
Goldman, Sachs & Co. was the week’s number-two agent with three deals totaling $39 million, down 61.8% from the week before when it was agent for nine deals totaling $103 million.
UBS AG rounded out the top three, jumping 129.2% from the previous week, offering $26 million in 16 deals compared to just $11 million in 22 deals the week before.
Monthly totals down 10.79%
Looking to month-to-date numbers, there have been 123 offerings between June 1 and June 10 totaling $428 million, down 4.5% from the $448 million in 94 deals offered between May 1 and May 10.
Compared to the June 1, 2015 to June 10, 2015 period, new-issue action has climbed 7.8%. Between June 1, 2015 and June 10, 2015, there 134 deals totaling $397 million.
Year-to-date figures fall 34.18%
Looking to year-to-date results, there have been 3,404 deals totaling $16.15 billion between Jan. 1 and June 10, down 25.2% from the 3,925 deals totaling $21,577,000,000 offered between Jan. 1, 2015 and June 10, 2015.
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