MAGOP CODE | MAGOP/FP/REQ/26FEB2023A |
PRODUCT TYPE |
|
DESCRIPTION | WANTED: Discounted MTN and Treasuries |
COUPON | Varies |
CURRENCY | USD or EUR |
PRICE |
MTNs: 80% or less of current trading price T-strips: At least minus 3% net |
TOTAL CONTRACT AMOUNT | As agreed |
TRANCHES | As agreed |
COMMISSIONS | As agreed |
ENGAGEMENT | D2D, B2B, or Euroclear. |
MODE | DVP |
SETTLEMENT | Same day or day after receiving bank confirmation |
DELIVERY | DTC/DTCC |
PAYMENT | MT103, domestic wire, or as agreed |
PROCEDURE |
|
NOTES |
OPTION PAPER Sellers that own no title but actually possess a real option to sell on behalf of a titleholder are welcomed when able to transact in either of the following two conditions: A) Buyer is allowed to pay for the option at the same time as paper is being paid for within the settlement process. OR B) Seller pays for the option and enters into a joint venture (JV) agreement with the buyer to split profits as agreed. |
MAGOP RELATIONSHIP: | Absolutely direct to the Buyer. |
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