Analysis of stock, equity index structured products issuance for year to date

Total year-to-date issuance: $14.491 billion in 884 deals

Data includes notes linked to a single stock, a basket of stocks or equity indexes.

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

Issuer

	1/2006	2/2006	3/2006	4/2006	5/2006	6/2006	7/2006	8/2006	9/2006
AB Svensk ExportKredit	0	0	0	0	0	0.106	0.026	0.142	0.056
ABN Amro Bank NV	0.005	0.010	0.015	0.018	0.008	0.021	0.014	0.005	0.008
BNP Paribas	0	0	0	0.004	0.009	0.006	0.011	0.009	0.004
Bank of America	0.040	0	0.050	0.007	0.092	0.009	0.017	0.026	0.028
Barclays Bank plc	0.030	0.053	0.049	0.031	0.048	0.039	0.070	0.074	0.084
Bear Stearns Cos. Inc.	0.002	0.003	0.007	0.007	0	0.003	0.025	0.009	0.008
Canadian Imperial Bank of Commerce	0	0.001	0.004	0	0.004	0	0	0	0
Citigroup Funding Inc.	0.141	0.130	0.240	0.145	0.131	0.224	0.032	0.267	0.058
Credit Suisse (USA) Inc.	0	0.016	0.010	0.010	0.008	0.006	0.010	0.010	0.029
Eksportfinans ASA	0.089	0.003	0.021	0.119	0.007	0.010	0.011	0.001	0.004
Goldman Sachs Group, Inc.	0.172	0.290	0.090	0.176	0.045	0.072	0.034	0	0
HSBC USA Inc.	0	0	0	0	0	0	0.001	0.018	0.013
JPMorgan Chase & Co.	0.006	0.026	0.043	0.035	0.013	0.198	0.082	0.096	0.143
Lehman Brothers Holdings Inc.	0.064	0.155	0.173	0.103	0.052	0.041	0.379	0.245	0.002
Merrill Lynch & Co., Inc.	0.075	0.218	0.423	0.052	0.055	0.206	0	0.461	0.090
Morgan Stanley	0.499	0.503	0.320	0.305	0.554	0.137	0.239	0.508	0.329
Royal Bank of Canada	0.009	0.009	0.007	0.003	0.010	0.005	0	0.001	0.010
TD Bank Financial Group	0	0	0	0	0	0	0.001	0.003	0.001
UBS AG	0.069	2.359	0.130	0.085	0.133	0.067	0.116	0.098	0.087
UBS AG Jersey Branch	0	0	0.150	0	0	0	0	0	0
Wachovia Corp.	0.021	0.047	0.032	0.023	0.004	0.070	0.044	0.059	0.056
Wells Fargo & Co.	0.010	0	0	0	0	0	0	0	0
Total	1.235	3.823	1.764	1.122	1.173	1.220	1.112	2.032	1.010
	Q1/2006	Count	Q2/2006	Count	Q3/2006	Count	YTD	Count	Total	Count	YTD Share
AB Svensk ExportKredit	0	0	0.106	3	0.224	7	0.331	10	0.331	10	2.28%
ABN Amro Bank NV	0.030	19	0.047	30	0.027	23	0.104	72	0.104	72	0.72%
BNP Paribas	0	0	0.019	9	0.025	13	0.044	22	0.044	22	0.30%
Bank of America	0.089	4	0.108	3	0.070	8	0.268	15	0.268	15	1.85%
Barclays Bank plc	0.132	41	0.117	45	0.228	65	0.477	151	0.477	151	3.29%
Bear Stearns Cos. Inc.	0.012	5	0.010	5	0.041	11	0.064	21	0.064	21	0.44%
Canadian Imperial Bank of Commerce	0.005	2	0.004	3	0	0	0.009	5	0.009	5	0.06%
Citigroup Funding Inc.	0.511	16	0.501	14	0.358	7	1.370	37	1.370	37	9.45%
Credit Suisse (USA) Inc.	0.026	11	0.024	24	0.049	28	0.099	63	0.099	63	0.68%
Eksportfinans ASA	0.113	11	0.136	12	0.017	9	0.266	32	0.266	32	1.84%
Goldman Sachs Group, Inc.	0.552	18	0.293	13	0.034	1	0.879	32	0.879	32	6.07%
HSBC USA Inc.	0	0	0	0	0.033	20	0.033	20	0.033	20	0.23%
JPMorgan Chase & Co.	0.075	17	0.246	39	0.321	81	0.642	137	0.642	137	4.43%
Lehman Brothers Holdings Inc.	0.393	15	0.196	9	0.625	10	1.214	34	1.214	34	8.38%
Merrill Lynch & Co., Inc.	0.717	9	0.312	10	0.551	10	1.580	29	1.580	29	10.90%
Morgan Stanley	1.322	40	0.997	29	1.075	30	3.394	99	3.394	99	23.42%
Royal Bank of Canada	0.025	7	0.018	5	0.010	4	0.053	16	0.053	16	0.37%
TD Bank Financial Group	0	0	0	0	0.005	3	0.005	3	0.005	3	0.03%
UBS AG	2.558	18	0.284	16	0.300	19	3.143	53	3.143	53	21.69%
UBS AG Jersey Branch	0.150	1	0	0	0	0	0.150	1	0.150	1	1.04%
Wachovia Corp.	0.101	12	0.096	8	0.158	11	0.356	31	0.356	31	2.46%
Wells Fargo & Co.	0.010	1	0	0	0	0	0.010	1	0.010	1	0.07%
Total	6.822	247	3.516	277	4.153	360	14.491	884	14.491	884	100.00%
Proceeds
	1/2006	2/2006	3/2006	4/2006	5/2006	6/2006	7/2006	8/2006	9/2006
Less than $1 million	0.002	0.003	0.004	0.003	0.004	0.006	0.005	0.009	0.011
$1-1.99 million	0.003	0.012	0.026	0.024	0.021	0.026	0.033	0.029	0.042
$2-2.99 million	0.011	0.017	0.022	0.034	0.010	0.036	0.023	0.033	0.036
$3-4.99 million	0.036	0.040	0.048	0.020	0.036	0.066	0.070	0.076	0.050
$5-9.99 million	0.070	0.097	0.076	0.114	0.038	0.144	0.148	0.125	0.113
$10-14.99 million	0.053	0.122	0.122	0.082	0.064	0.092	0.091	0.091	0.143
$15-$49.99 million	0.279	0.481	0.559	0.381	0.411	0.442	0.292	0.502	0.251
$50 million and higher	0.781	3.051	0.907	0.463	0.588	0.408	0.451	1.167	0.365
Total	1.235	3.823	1.764	1.122	1.173	1.220	1.112	2.032	1.010
	Q1/2006	Count	Q2/2006	Count	Q3/2006	Count	YTD	Count	Total	Count	YTD Share
Less than $1 million	0.009	17	0.014	32	0.024	54	0.047	103	0.047	103	0.32%
$1-1.99 million	0.041	30	0.072	53	0.104	76	0.217	159	0.217	159	1.50%
$2-2.99 million	0.051	23	0.079	33	0.092	40	0.221	96	0.221	96	1.53%
$3-4.99 million	0.124	34	0.122	34	0.196	53	0.442	121	0.442	121	3.05%
$5-9.99 million	0.243	36	0.297	41	0.385	57	0.925	134	0.925	134	6.38%
$10-14.99 million	0.297	25	0.238	21	0.324	28	0.859	74	0.859	74	5.93%
$15-$49.99 million	1.319	47	1.234	47	1.044	36	3.597	130	3.597	130	24.82%
$50 million and higher	4.739	35	1.459	16	1.983	16	8.182	67	8.182	67	56.46%
Total	6.822	247	3.516	277	4.153	360	14.491	884	14.491	884	100.00%
Coupon
	1/2006	2/2006	3/2006	4/2006	5/2006	6/2006	7/2006	8/2006	9/2006
0%-0.99%	0.614	0.844	0.775	0.521	0.649	0.742	0.411	1.191	0.671
1%-1.99%	0	0	0.068	0.007	0.010	0.025	0	0	0
2%-2.99%	0	0.043	0.035	0.004	0.010	0	0.024	0	0
3%-3.99%	0	0	0.070	0.012	0.045	0	0	0	0
4%-4.99%	0	0	0	0	0.005	0	0	0	0
5%-5.99%	0.005	0.010	0.010	0	0	0	0	0	0
6%-6.99%	0	0.050	0.017	0.021	0	0.040	0	0	0
7%-7.99%	0	0.029	0.090	0.110	0.002	0	0.150	0	0
8%-8.99%	0.024	0.012	0.047	0.148	0.006	0.011	0.215	0.036	0.052
9%-9.99%	0.022	0.083	0.049	0.020	0.111	0.019	0.022	0.105	0.033
10%-10.99%	0.082	0.049	0.181	0.015	0.023	0.023	0.028	0.217	0.013
11%-11.99%	0.002	0.005	0.033	0.015	0.013	0.007	0.029	0.212	0.049
12%-12.99%	0.005	0.004	0.096	0.001	0.005	0.169	0.017	0.013	0.074
13%-13.99%	0.009	0.019	0.004	0.004	0.007	0.009	0.005	0.013	0.012
14%-14.99%	0	0.059	0	0.004	0.001	0.007	0.015	0.001	0.066
15%-15.99%	0.005	0.007	0.002	0.008	0	0.003	0.008	0.001	0.011
16%-16.99%	0	0	0	0.005	0.007	0.002	0.003	0.038	0.010
17%-17.99%	0	0	0.013	0.002	0	0	0.006	0.015	0.010
18%-18.99%	0.001	0	0	0.028	0.016	0.004	0	0.010	0.001
19%-19.99%	0.050	0.002	0	0	0.003	0.056	0.006	0.004	0.002
20%-20.99%	0	0.050	0.063	0.003	0.031	0	0	0.034	0.006
21%-21.99%	0	0	0	0	0	0	0	0.002	0
22%-22.99%	0	2.200	0	0	0	0.002	0.002	0.001	0
25%-25.99%	0.050	0	0	0	0	0	0	0	0
28%-28.99%	0.050	0	0	0	0	0	0	0	0
30%-30.99%	0	0	0	0	0	0	0	0	0.002
32%-32.99%	0	0	0	0	0	0	0	0.002	0
Floater	0	0	0.004	0	0.004	0	0	0	0
NA	0.315	0.355	0.207	0.195	0.225	0.102	0.172	0.134	0
Total	1.235	3.823	1.764	1.122	1.173	1.220	1.112	2.032	1.010
	Q1/2006	Count	Q2/2006	Count	Q3/2006	Count	YTD	Count	Total	Count	YTD Share
0%-0.99%	2.233	103	1.911	117	2.273	140	6.417	360	6.417	360	44.28%
1%-1.99%	0.068	2	0.042	3	0	0	0.110	5	0.110	5	0.76%
2%-2.99%	0.077	4	0.013	2	0.024	1	0.115	7	0.115	7	0.79%
3%-3.99%	0.070	2	0.057	4	0	0	0.127	6	0.127	6	0.88%
4%-4.99%	0	0	0.005	1	0	0	0.005	1	0.005	1	0.03%
5%-5.99%	0.025	3	0	0	0	0	0.025	3	0.025	3	0.17%
6%-6.99%	0.067	3	0.061	2	0	0	0.127	5	0.127	5	0.88%
7%-7.99%	0.120	6	0.112	3	0.150	1	0.382	10	0.382	10	2.64%
8%-8.99%	0.084	11	0.165	15	0.303	19	0.552	45	0.552	45	3.81%
9%-9.99%	0.154	17	0.150	20	0.161	36	0.464	73	0.464	73	3.20%
10%-10.99%	0.313	26	0.060	28	0.257	32	0.631	86	0.631	86	4.35%
11%-11.99%	0.041	14	0.035	19	0.290	23	0.366	56	0.366	56	2.53%
12%-12.99%	0.105	7	0.175	12	0.104	19	0.383	38	0.383	38	2.64%
13%-13.99%	0.032	8	0.021	11	0.030	15	0.083	34	0.083	34	0.57%
14%-14.99%	0.059	4	0.013	5	0.081	14	0.153	23	0.153	23	1.06%
15%-15.99%	0.014	7	0.011	5	0.020	11	0.045	23	0.045	23	0.31%
16%-16.99%	0	0	0.014	3	0.051	8	0.065	11	0.065	11	0.45%
17%-17.99%	0.013	3	0.002	1	0.031	9	0.045	13	0.045	13	0.31%
18%-18.99%	0.001	1	0.048	4	0.011	5	0.059	10	0.059	10	0.41%
19%-19.99%	0.052	2	0.059	4	0.011	5	0.123	11	0.123	11	0.85%
20%-20.99%	0.113	3	0.034	2	0.040	4	0.187	9	0.187	9	1.29%
21%-21.99%	0	0	0	0	0.002	1	0.002	1	0.002	1	0.01%
22%-22.99%	2.200	1	0.002	1	0.004	2	2.206	4	2.206	4	15.22%
25%-25.99%	0.050	1	0	0	0	0	0.050	1	0.050	1	0.35%
28%-28.99%	0.050	1	0	0	0	0	0.050	1	0.050	1	0.35%
30%-30.99%	0	0	0	0	0.002	1	0.002	1	0.002	1	0.01%
32%-32.99%	0	0	0	0	0.002	1	0.002	1	0.002	1	0.01%
Floater	0.004	1	0.004	1	0	0	0.008	2	0.008	2	0.06%
NA	0.878	17	0.523	14	0.306	13	1.706	44	1.706	44	11.77%
Total	6.822	247	3.516	277	4.153	360	14.491	884	14.491	884	100.00%
Type
Structure
	1/2006	2/2006	3/2006	4/2006	5/2006	6/2006	7/2006	8/2006	9/2006
basket of stocks	0.005	0.009	0.025	0	0.019	0.020	0.006	0.048	0
callable reverse convertible	0.082	0.024	0.125	0.021	0.040	0.005	0.012	0.095	0.073
convertible	0.082	2.270	0.230	0.004	0.030	0.029	0.024	0.014	0
downside protection	0.106	0.106	0.075	0.124	0.121	0.050	0.108	0.019	0.028
increasing calls	0.037	0.011	0.013	0.007	0.016	0.054	0.026	0.029	0.047
leveraged return	0.250	0.400	0.437	0.215	0.416	0.182	0.073	0.454	0.104
leveraged return, downside protection	0	0.062	0.009	0.011	0.010	0.050	0.015	0.063	0.001
leveraged return, partial downside protection	0.080	0.090	0.181	0.054	0.041	0.229	0.141	0.367	0.404
other/NA	0.323	0.361	0.253	0.248	0.225	0.256	0.205	0.333	0.090
reverse convertible	0.113	0.122	0.202	0.261	0.056	0.040	0.363	0.228	0.007
trigger reverse convertible	0.158	0.368	0.215	0.178	0.199	0.306	0.139	0.381	0.255
Total	1.235	3.823	1.764	1.122	1.173	1.220	1.112	2.032	1.010
	Q1/2006	Count	Q2/2006	Count	Q3/2006	Count	YTD	Count	Total	Count	YTD Share
basket of stocks	0.039	6	0.039	5	0.054	3	0.133	14	0.133	14	0.92%
callable reverse convertible	0.231	8	0.066	3	0.180	6	0.477	17	0.477	17	3.29%
convertible	2.581	10	0.062	6	0.038	2	2.681	18	2.681	18	18.50%
downside protection	0.288	23	0.294	23	0.155	14	0.737	60	0.737	60	5.09%
increasing calls	0.061	3	0.077	10	0.103	21	0.240	34	0.240	34	1.66%
leveraged return	1.087	32	0.813	29	0.632	30	2.532	91	2.532	91	17.47%
leveraged return, downside protection	0.071	8	0.072	8	0.079	5	0.223	21	0.223	21	1.54%
leveraged return, partial downside protection	0.350	24	0.323	28	0.912	50	1.585	102	1.585	102	10.94%
other/NA	0.936	21	0.729	24	0.628	31	2.294	76	2.294	76	15.83%
reverse convertible	0.437	18	0.357	10	0.597	12	1.390	40	1.390	40	9.59%
trigger reverse convertible	0.741	94	0.683	131	0.775	186	2.199	411	2.199	411	15.17%
Total	6.822	247	3.516	277	4.153	360	14.491	884	14.491	884	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 are linked to a single stock, a basket of stocks or one or more equity indexes.

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